we have alloted 312 shares of nirmal ltd. on 25000 shares of core health care ltd. i.e. 1 eq share alloted on every 80 shares held of core health care ltd.
my question is that that will be the cost of 312 shares of 312 shares of nirma ltd.
secondly we had applied for 5000 share of hindalco industries @ 96/- per share which was to be paid on Rs.24/- each in 4 installments. Now this year it was fully paid up. Therefore my question is that what will be date of acquisition of that 5000 shares. whether it should be shown in this years date when it was fully paid?
the date of acquisition shall be the date when the shares are fully acquired. i.e. the current year.
the cost of 312 shares of nirma limited shall depend on the terms of merger.
the merger in this case is in my opinion 'merger in nature of purchase'.but still details are not full.
details regarding merger terms r reqd.
CAclubindia
