MERCK LIMITED (MERCK INDIA), formerly E. Merck Limited, was set up in India as Merck’s first Asian subsidiary in 1967. The company operates both its pharmaceuticals and chemicals businesses in the country. Merck was...
ITO Vs Tini Pharma Ltd., Hyderabad
Facts of the case: Assessee company, engaged in the business of manufacture and sale of Bulk drugs and pharmaceutical formulations, filed its return of income for the AY 2007-08 on 28/10/2007 declaring loss of Rs...
Merger of four loss-making PSU banks on the cards
To order to bring in efficiency in the functioning of loss-making public-sector banks (PSBs), the government is considering merging at least four such banks because of rising bad loans. The four banks are Oriental Bank...
S Chand Group: Taking one step at a time
S Chand and Company Ltd (S Chand) is a listed public limited company, engaged in the business of publishing educational books with products ranging from school books, higher academic books, competition and references...
UltraTech acquires Century Textiles’ cement business
The Board of Directors of Century Textiles and Industries Limited (Century) had approved a Scheme of Arrangement between the Century, UltraTech Cement Limited (UltraTech), and their shareholders and creditors for the...
Amarjyot-Valiant Organics: Consolidation to Grow
Valiant Organics Ltd. (VALIANT) was established in the year 1985 under the name of Valiant Chemical Corporation, with a single product, viz., meta chloroaniline. The company was the major manufacturer of the same in...
Determination of Fair Value of Inventory converted into Capital Assets
Element Details Background Section 45 of the Act, inter alia, provides that capital gains arising from a conversion of capital asset into stock-in-trade shall be chargeable to tax. However, in cases where the stock in...
Waiver of loan – not taxable as business income for Mahindra and Mahindra Ltd
Brief Facts: The Taxpayer, an Indian company engaged in the business of manufacturing of jeeps, entered into an agreement with a supplier based in USA (US Co) for purchase of tooling and other equipment for manufacture...
AMPL and Paisalo becomes one entity
Paisalo Digital Limited Paisalo Digital Limited (Paisalo) is a Non-Deposit Taking Systemically Important Non-Banking Finance Company (ND-SI-NBFC) engaged in lending to individuals, SSIs, SMEs and other manufacturing...
REDUCTION OF SHARE CAPITAL: SAGAR SOYA
Section 66 of the Companies Act, 2013 allows companies to reduce their share capital. The scheme of Reduction of share capital is undertaken by companies in the following manner: Company can extinguish or reduce its...
Implementation of SPACs in India – Key Regulatory challenges
Special Purpose Acquisition Vehicles (SPACs) have emerged as a promising option to raise public funding from offshore markets. They are especially suited for start-ups, who otherwise find it difficult to excite the...
Changes in ownership in asset management companies
At a time when Indian individuals are increasingly investing in mutual funds to build long-term corpus and assets under management (AUM) of the industry are growing rapidly, there are ownership changes happening in...