Cross-border mergers require central bank approval, recognised jurisdictional valuation, and tribunal sanction under the companies scheme. The amendment permits mergers between Indian and foreign companies only after prior central bank approval and compliance with the statutory scheme for compromises, arrangements and amalgamations; transferee valuation must be performed by valuers recognised in the transferee's jurisdiction in accordance with internationally accepted accounting and valuation principles, with a declaration filed with the central bank application, and companies must thereafter seek tribunal sanction.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cross-border mergers require central bank approval, recognised jurisdictional valuation, and tribunal sanction under the companies scheme.
The amendment permits mergers between Indian and foreign companies only after prior central bank approval and compliance with the statutory scheme for compromises, arrangements and amalgamations; transferee valuation must be performed by valuers recognised in the transferee's jurisdiction in accordance with internationally accepted accounting and valuation principles, with a declaration filed with the central bank application, and companies must thereafter seek tribunal sanction.
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