Cross-border merger approvals require RBI consent; transferee must apply to Central Government under section 233. An amendment requires that where a foreign holding company transfers to its Indian wholly owned subsidiary by merger, the parties must obtain prior approval of the Reserve Bank of India; the transferee must comply with Companies Act requirements and apply to the Central Government under the Act with the existing application procedures applying; the prescribed declaration must be made when filing that application.
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 approvals require RBI consent; transferee must apply to Central Government under section 233.
An amendment requires that where a foreign holding company transfers to its Indian wholly owned subsidiary by merger, the parties must obtain prior approval of the Reserve Bank of India; the transferee must comply with Companies Act requirements and apply to the Central Government under the Act with the existing application procedures applying; the prescribed declaration must be made when filing that application.
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