Cross border merger compliance: resultant companies must meet foreign exchange, investment and time limited divestment and reporting requirements. Cross border mergers are permitted subject to foreign exchange and foreign investment norms; resultant companies must comply with issuance and transfer rules for securities, treat overseas or Indian offices as branches for transactional purposes, bring transferred borrowings and guarantees into conformity with applicable external borrowing and guarantee norms within a limited compliance period, divest prohibited assets within that period with repatriation of proceeds, maintain time limited merger accounts, follow prescribed valuation rules, ensure pre-merger regulatory compliance, furnish reports to the Reserve Bank, and submit certificates of compliance with the scheme to obtain deemed Reserve Bank approval.
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 merger compliance: resultant companies must meet foreign exchange, investment and time limited divestment and reporting requirements.
Cross border mergers are permitted subject to foreign exchange and foreign investment norms; resultant companies must comply with issuance and transfer rules for securities, treat overseas or Indian offices as branches for transactional purposes, bring transferred borrowings and guarantees into conformity with applicable external borrowing and guarantee norms within a limited compliance period, divest prohibited assets within that period with repatriation of proceeds, maintain time limited merger accounts, follow prescribed valuation rules, ensure pre-merger regulatory compliance, furnish reports to the Reserve Bank, and submit certificates of compliance with the scheme to obtain deemed Reserve Bank approval.
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