Take over code
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 May 2013
"Company 'A' is a listed company. The X Family is a promoter of Company 'A' and along with friends and relatives, collectively owns 35% of the equity capital of the said company.
Mr. X, the patriarch of the X fmly holds 24.5% of the equity shares of Company 'A'.
The X fmly desires to consolidate all holdings in the hands of M\r. X, who wolud in turn form a company cld X Ltd. to which he would transfer all the shares and in which he would hold 100% of the equity share capital .
X fmly has approached you to explain any implications of the Takeover Regulations. They do not want such a restructuring of a fmly holdeing to triggfer an open offer.
Please advise fmly X on how they can achiever thier objective."
Mr. X, the patriarch of the X fmly holds 24.5% of the equity shares of Company 'A'.
The X fmly desires to consolidate all holdings in the hands of M\r. X, who wolud in turn form a company cld X Ltd. to which he would transfer all the shares and in which he would hold 100% of the equity share capital .
X fmly has approached you to explain any implications of the Takeover Regulations. They do not want such a restructuring of a fmly holdeing to triggfer an open offer.
Please advise fmly X on how they can achiever thier objective."
13 May 2013
Very simple. Let the holding of Mr. X and group be purchased at market price by X Ltd. and one of the directors of X Ltd can be a director in A Limited as representative.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- NR GST NUMBER
- ITR 6 Schedule CFL and UD Issues
- Not a CA , can we prepare balance sheet
- For REQUIRE INDIVIDUAL GST
- GST Department hearing
- TDS RATE ON RENT PAID TO NRI
- Income Type for interest from government bonds
- GST Form ADT-02
- GST Refund SB005 Error
- Notice u/s.148- Asstt.Year 2015-2016
- Invoice Numbers WROGLY ENTERED
- TDS on purchase of value vouchers for employees ?
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
