India: Financial Restructuring

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Article
Tribunal Accords Strict Interpretation To Section 2(41A) To Deny Tax Neutrality To Demerger Where Shares Are Issued By The “holding Company” Instead Of The Company To Whom The Undertaking Is Demerged; Denies Carry Forward Of Losses Under Section 72A Of The Income Tax Act, 1961
Corporate demergers have long served as an effective mechanism for business reorganisation, enabling companies to segregate business verticals, streamline operations and facilitate strategic investments in a tax-efficient manner. It is not uncommon for group restructurings to involve transfer of an undertaking to a wholly owned subsidiary (“WOS”) while the consideration is discharged through issuance of shares by its holding company—a structure that has, on several occasions, received approval under the Companies Act, 2013.
India Commercial
VA
Vaish Associates Advocates
Article
Restructured Debt And The Survival Of Registered Charges: NCLAT Affirms Secured Creditor Status In The Absence Of Post-Restructuring ROC Modification
The National Company Law Appellate Tribunal delivered a landmark ruling on whether credit facilities restructured under RBI guidelines retain their secured status during liquidation proceedings without corresponding modification of charge registration. The judgment addresses the complex interplay between corporate debt restructuring, charge registration requirements under company law, and the insolvency resolution framework, establishing critical precedents for consortium lending practices.
India Insolvency
IL
IndiaLaw LLP
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