Retained Undertaking definition

Retained Undertaking or “Remaining Undertaking” means all the business assets and liabilities and activities of the Demerged Company, including the trading business of semi-finished hosiery items and similar product, other than the business assets and liabilities of Demerged Undertaking, which upon this Scheme becoming effective, be vested with the Resulting Company as provided in the Scheme. The same shall include all the undertakings, businesses and operations of the Demerged Company other than those comprised in the Demerged Undertaking of Demerged Company and would specifically include hosiery trading business of the Demerged Company. The Retained Undertaking
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Retained Undertaking means all the undertakings, businesses, activities, duties, debts, liabilities, obligations and operations of the Greenply other than those comprised in the Demerged Undertaking.
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Retained Undertaking or “Remaining Undertaking” means all the business assets and liabilities and activities of the Demerged Company, including the trading business of semi-finished hosiery items and similar product, other than the business assets and liabilities of Demerged Undertaking, which upon this Scheme becoming effective, be vested with the Resulting Company as provided in the Scheme. The same shall include all the undertakings, businesses and operations of the Demerged Company other than those comprised in the Demerged Undertaking of Demerged Company and would specifically include hosiery trading business of the Demerged Company. The Retained Undertaking shall include the whole of the assets, properties, liabilities and entire business(es) pertaining to such undertaking on a going concern. Any question that may arise with respect to a common asset such as cash and bank balances; etc. and/or with regard to any specific asset or liability as to whether and to what extent the same pertains or does not pertain to the ‘Retained Undertaking’ or whether it arises out of the activities or operations of the ‘Retained Undertaking’ shall be decided mutually between the Board of Directors of the Demerged Company and the Resulting Company.
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Examples of Retained Undertaking in a sentence

  • It is expressly clarified and provided that the Retained Undertaking shall continue to be so vested in Greenply and all liabilities, present or contingent, under the Income Tax Act, 1961 of Greenply as a whole, for the period prior to the Appointed Date shall be borne by Greenply with Greenply also being entitled to any and all tax refunds and other credits under the said acts for such prior period.

  • Likewise, any charge, security interest, lien, statutory lien or statutory charge pertains to any assets of the Retained Undertaking shall continue to have effect only on the assets of the Retained Undertaking and shall cease to have effect on the assets of the Demerged Undertaking.

  • Any charge, security interest, lien, statutory lien or statutory charge pertaining to any assets of the Demerged Undertaking shall continue to have effect only on the assets of the Demerged Undertaking and shall cease to have effect on the assets of the Retained Undertaking.

  • Save and except the Demerged Undertaking and as expressly provided in this Scheme, nothing contained in this Scheme shall affect Retained Undertaking of Greenply which shall continue to belong to and be vested in and be managed by Greenply.

  • This Scheme shall be deemed to ensure that any amount owing by Greenply as on the Appointed Date, or at any time thereafter, is owned either by Greenply or Greenlam such that the liabilities and debts pertaining to the Demerged Undertaking are taken over by Greenlam and those pertaining to the Retained Undertaking continue to be the debts or liabilities of Greenply.


More Definitions of Retained Undertaking

Retained Undertaking means all the undertakings, businesses and operations of the Demerged Company, after the transfer of Transferred Undertaking – I and Transferred Undertaking – II to the Resulting Company-I and the Resulting Company -II;
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Related to Retained Undertaking

  • related undertaking means any undertaking in which any person has a

  • L/C Undertaking has the meaning set forth in Section 2.12(a).

  • parent undertaking means a parent undertaking as defined in point (15)(a) of Article 4(1) of Regulation (EU) No 575/2013;

  • Disclosure Undertaking means the Continuing Disclosure Undertaking, dated as of the Dated Date, relating to certain obligations contained in the SEC Rule.

  • Group Undertaking means any undertaking in the Group, including the Company;