Tag: Mergers and Acquisitions
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DVT and the MSME Protection Gap: Rethinking India’s Merger Control Framework
[Harsh Jain is a 3rd year B.A., LL.B. (Hons.) student at National Law Institute University, Bhopal] The introduction of the Deal Value Threshold (DVT) through the Competition (Amendment) Act, 2023, marked a watershed moment in India’s merger control regime. Presently, section 5(d) of the Act mandates scrutiny by the Competition Commission of India (CCI) for transactions exceeding…
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Investing in the IPL: The Legal Playbook for IPL Franchise Investments
[Rajat Sethi (Partner), Dhruv Nath (Partner), V Sreedharan (Associate) and Akshay Dhekane (Associate) are with S&R Associates, Advocates] Since its launch in 2008, the Indian Premier League (“IPL”) has grown into one of the world’s most successful sporting competitions. In recent years, franchise valuations have soared, media rights deals have hit record highs, and brand partnerships have expanded across sectors, drawing global…
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Jindal Equipment Case: Clarifying Taxation of Stock-in-Trade in Amalgamations
[Kashvi Singh and Abhilipsha Naik are 3rd year students at National Law University, Odisha] Corporate amalgamations are a common tool for restructuring business groups, enabling consolidation, efficiency, and strategic realignment. A crucial determinant of the commercial viability of such mergers is their tax treatment, particularly in relation to share-for-share exchanges between the amalgamating and amalgamated companies. Traditionally, Indian tax…
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The Bankers Are Coming: RBI’s Architecture for Bank-Financed Takeovers
[Rudraksh Misra is a 3rd Year B.A.LL.B. (Hons.) Student at Hidayatullah National Law University, Raipur] In October 2025, the Reserve Bank of India (‘RBI’) issued the draft RBI (Commercial Banks – Capital Market Exposure) Directions, 2025 (‘RBI Draft Directions’) proposing to allow banks to finance corporate takeovers, a marked departure from decades of regulations that effectively barred banks from funding such acquisitions.…
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Fast-Track Mergers Reimagined: The 2025 MCA Amendment
[Arjun Chaudhary is a 4th year BBA. LLB. (Hons.) student at Gujarat National Law University] The fast-track merger route under section 233 of the Companies Act, 2013 was originally designed as a narrow mechanism to simplify mergers between small companies and between holding companies and their wholly owned subsidiaries. The objective was to remove such schemes from the…
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The Debt Shift: How the RBI is Quietly Reshaping India’s M&A and Competition Landscape
[Himanshu K. Mishra is a fourth year student at the National Law Institute University, Bhopal] On October 1, 2025, the Reserve Bank of India (“RBI”) issued its Statement on Developmental and Regulatory Policies. Quietly buried in items 5 and 6 is a measure that, understated in tone, has a significant potential to fundamentally rewire India’s mergers and…
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Understanding “Undertaking” in the Context of Investment Demergers
[Barsha Dikshit is a Partner and Sourish Kundu a Senior Executive at Vinod Kothari & Co.] The meaning of “undertaking” has been one of the most debated issues under Indian company law and tax law, particularly when it comes to the questions of whether shares or investments can be treated as an “undertaking”. While the term intuitively refers…
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The Tax Policy Paradox in Fast-Track Demergers
[Aayush Agarwal is a 3rd year student at Gujarat National Law University, Gandhinagar and Taher Hussain is a 4thyear student at Maharashtra National Law University, Mumbai] On July 21, 2025, the Select Committee on the Income Tax Bill, 2025, presented its Report (‘the Report’) before the Parliament, analysing various provisions of the new bill and suggesting appropriate changes to it. One…
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Accelerating Fast Track Mergers: Ministry Proposes Wider Eligibility
[Esha Rathi is an associate at a law firm’s Mumbai office] Mergers are a common tool for corporate restructuring. However, securing approval from the National Company Law Tribunal (“NCLT”) can often be a lengthy and complex process. To streamline such transactions, section 233 of the Companies Act, 2013 introduces a fast track merger (“FTM”) route, allowing certain classes…
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Breaking Down Break Fees: Regulatory Trends and Legal Perspectives on Deal Protections in M&A
[Arjim Jain and Shruti Asati are 5th Year B.A., LL.B. (Hons.) students at National Law University, Odisha] On May 5, 2025, Singapore’s Securities Industry Council (“SIC”) released a consultation paper proposing significant amendments to the Singapore Code on Takeovers and Mergers, with a sharp focus on regulating deal protection measures—especially break fees. The proposal seeks to generally prohibit break fees unless…
