Facilitating strategic disinvestment of public sector company

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....tion to companies, means the transfer, pursuant to a scheme of arrangement under sections 391 to 394 of the Companies Act, 1956 (1 of 1956), by a demerged company of its one or more undertakings to any resulting company on satisfaction of conditions prescribed in the said clause. Section 72A of the Act provides provisions relating to carry forward and set off of accumulated loss and unabsorbed de....

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.... companies shall be deemed to be a demerger, if • such reconstruction or splitting up has been made to transfer any asset of the demerged company to the resultant company; and • the resultant company is a public sector company on the appointed date indicated in the scheme approved by the Government or any other body authorised under the provisions of the Companies Act, 2013 or any ot....

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....ate amalgamation of the said public sector company; and • the amalgamation is carried out within five year from the end of the previous year in which the restriction on amalgamation in the share purchase agreement ends. (c) to insert a proviso to sub-section (1) to provide that the accumulated loss and the unabsorbed depreciation of the amalgamating company, in case of an amalgamation ref....