Our Partner, Sunayana Basu Mallik provided valuable insights in a recent article published by Business Standard titled " MCA revises thresholds for mergers and amalgamation under Competition Act”
In her statement, Basu emphasized the necessity of implementing disclosure requirements similar to those applicable to listed companies, even prior to the actual listing. She stated, “The central government, acting in public interest, provides exemptions to enterprises engaged in specific activities under the Competition Act. These include acquisitions according to clause (a) of Section 5, the acquisition of control by an individual over an enterprise as per clause (b) of Section 5, and mergers or amalgamations under clause (c) of Section 5,”
“This value is determined by considering the book value from audited books of accounts or the statutory auditor's report if the financial statement is pending. It encompasses brand value, goodwill, or the value of various commercial rights, and the turnover is certified by the statutory auditor based on the last available audited accounts of the company.”
For more information on this topic and to read the full coverage, please visit: https://www.business-standard.com/industry/news/mca-revises-thresholds-for-mergers-and-amalgamation-under-competition-act-124030800590_1.html
