M & A CritiqueIndustry-wise breakup of the schemes filed is as follows:
| Industry | No. of Deals | |
| September 2015 | August 2015 | |
| Agriculture | – | 1 |
| Financial Services | 2 | 1 |
| Investments | – | 2 |
| Information Technology | 1 | 4 |
| Infrastructure | – | 1 |
| Publication | – | 1 |
| Real Estate | – | 6 |
| Jewellery & Diamonds | – | 1 |
| Consultancy Services | 2 | – |
| Others | 7 | 12 |
| Total | 12 | 29 |
This month 12 (Twelve) Schemes were filed, involving 30 (Thirty) Companies, of which 11 (Eleven) Schemes were Schemes of Amalgamation, 1 (One) Scheme was Scheme of Demerger.
Other facts are:-
- 1 (One) Company was Listed Company.
- 3 (Three) Companies have paid-up Capital of more than Rs. 10 Crores.
- 3 (Three) Schemes were Merger between Holding Company and Subsidiary Company.
- In 3 (Three) Schemes, the Transferor Company has carried forward losses and the Transferee Company is profit making.
- In 1 (One) Scheme, the Transferor Company and the Transferee Company both have carried forward losses.
- In 3 (Three) Schemes, Transferor Company is profit making and the Transferee Company is loss making.
DETAILS OF SCHEME
SCHEME OF AMALGAMATION
TECH MAHINDRA BPO LIMITED AND NEW VC SERVICES PRIVATE LIMITED AND TECH MAHINDRA LIMITED AND THEIR SHAREHOLDERS AND CREDITORS
This Scheme of Amalgamation of Unlisted Companies with Listed Company.This is a case of Horizontal Amalgamation as all the companies are engaged in same lines of business. Tech Mahindra BPO Limited is currently engaged in executing Business Process Outsourcing contracts for their clients in India and abroad, for their operating and management process. New VC Services Private Limited is currently engaged in the business of providing online technical support for all processes, transactions, activities and all other work performed by business in various industries within India and across the World. Tech Mahindra Limited is engaged in business of providing Information Technology and Information Technology enabled Services. No consideration will be paid by Tech Mahindra Limited for transfer of the entire undertakings of Tech Mahindra BPO Limited and New VC Services Private Limited as Tech Mahindra BPO Limited and New VC Services Private Limited are wholly owned Subsidiary of Tech Mahindra Limited.The Appointed Date of Amalgamation is 1st April 2015.
Tech Mahindra Limited, the Transferee Company has not filed application for Amalgamation with the High Court based on the Judgment in case of Mahaamba Investments Limited and IDI Limited (2001) 105 Company Cases page 16 to 18, that if there is no effect on the rights of the members or creditors of the Transferee Company as between themselves or does not involve reorganisation of the share capital of the Transferee Company, no pplication/petition by the Transferee Company is necessary.
PETITIONS ADMITTED
The number of Schemes admitted were 23 (Twenty Three) of which 15 (Fifteen) Schemes were Schemes of Amalgamation, 6 (Six) Schemes were Schemes of Demerger and 2 (Two) Schemes were Composite Scheme of Arrangement.
IMPORTANT ONES ARE LISTED BELOW:
Scheme of Amalgamation:
- IDL Speciality Chemicals Limitedwith Hinduja Ventures Limited.
Scheme of Demerger:
- Atlas Castalloy Limited and Alicon Castalloy Limited.
- Pudumjee Pulp & Paper Mills Limited and Pudumjee Industries Limited and Pudumjee Hygiene Products Limited and Pudumjee Paper Products Limited
- Crompton Greaves Limited and Crompton Greaves Consumer Electricals Limited
Composite Scheme of Arrangement:
- ITI Securities Limited and ITI Capital Holdings Private Limited and Crest Ventures Limited.
PETITIONS SANCTIONED
The numbers of Schemes sanctioned were 23(Twenty Three) of which 20 (Twenty) Schemes were Schemes of Amalgamation, 2 (Two) Schemes were Schemes of Demerger and 1 (One) Scheme was Composite Schemes of Arrangement.
IMPORTANT ONES ARE LISTED BELOW:
Scheme of Amalgamation
- Soven Trading & Investment Company Private Limited,Sudipta Trading & Investment Company Private Limited,Transgene Trading & Investment Company Private Limited, Anand Synthochem Limitedwith FDC Limited.
- Indokem Exports Limited, Khatau Capacitors Private Limitedwith Indokem Limited.
- Capri Global Distribution Company Private Limited, Capri Global Finance Private Limited, Capri Global Investment Advisors Private Limited, Capri Global Research Private Limited with Capri Global Capital Limited.
