Demerged Undertaking definition

Demerged Undertaking means the Premium Brands Business of the Demerged Company and includes related assets, liabilities, rights and powers, on a going concern basis, representing an undertaking in compliance with Sec. 2(19AA) of the Income Tax Act, as on the Appointed Date, which shall be transferred and vested with the Resulting Company upon Demerger by the Demerged Company in terms of this Scheme. Without prejudice and limitation to the generality of the above, the Demerged Undertaking means and includes,:

Demerged Undertaking means the business, undertaking, and properties, of whatsoever nature and kind and wheresoever situated, in each case, forming part of or necessary or advisable for the conduct of, or the activities or operations of, the Power Grids Business as a going concern, including but not limited to, the following:

Demerged Undertaking means the entire General Insurance Business of the Demerged Company as a going concern as on the Appointed Date, including, without limitation all undertakings, activities, operations, assets, investments, rights, approvals, licenses and powers, leasehold rights and all its debts, outstandings, liabilities, duties, obligations and employees, in each case pertaining to the Demerged Company but excluding at all times the Residual Undertaking. Without prejudice to the generality of the foregoing, the Demerged Undertaking shall include, without being limited to, the following:

Examples of Demerged Undertaking in a sentence

• The Scheme provides inter alia for the demerger of the Demerged Undertaking (as defined below) of the Transferor to the Transferee (“Demerger”) and the consequent issuance of equity shares by the Transferee to the shareholders of the Transferor under Sections 230- 232 and other applicable provisions of the Act (as defined below) and the SEBI Scheme Circular (as defined below).

• If any part of the Demerged Undertaking is inadvertently retained by the Transferor after the Effective Date, the Transferor shall take such actions as may be reasonably required to ensure that such part of the Demerged Undertaking is transferred to the Transferee promptly and for no further consideration.

• The decision on whether or not an employee is part of the Demerged Undertaking, shall be decided mutually by the Parties, and shall be final and binding on all concerned.

• Regular Part-Time Employees who have worked at least hours (35-hour work week positions), hours (37.5-hour work week positions) or hours (40-hour work week positions), and regularly work at least twenty (20) hours each week shall be given the option of receiving employee benefits or being paid an amount equal to sixteen percent (16%) of their regular earnings in lieu of employee benefits.

• Nothing in this Scheme shall affect any transaction or proceedings already concluded or liabilities incurred by the Demerged Company in relation to the Demerged Undertaking until the Appointed Date, to the end and intent that the Resulting Company shall accept and adopt all acts, deeds and things done and executed by the Demerged Company in respect thereto as done and executed on behalf of the Resulting Company.

More Definitions of Demerged Undertaking

Demerged Undertaking means the entire undertaking of HFRL pertaining to its Retail Undertaking and includes:

Demerged Undertaking means the Real Estate Business (as defined hereinafter) of the Demerged Company, comprising, inter-alia, of all the properties, assets, liabilities, permits licenses, registrations, approvals, contracts and employees, on a going concern basis, representing an undertaking in compliance with Explanation 1 to Section 2(19AA) of the IT Act (as defined hereinafter), and includes:

Demerged Undertaking means the ‘Automotive/Tractor/Engineering Components Business Undertaking’ of the Demerged Company, which shall include business, activities and operations pertaining to the ‘Automotive/Tractor/Engineering Components (hereinafter also referred to as

Demerged Undertaking means all the business, undertakings, properties, investments and liabilities of whatsoever nature and kind and where so ever situated, of the Demerged Company, in relation to and pertaining to the Consumer Electric Business on a going concern basis, as on the Appointed Date, together with all its assets and liabilities and shall include (without limitation):

Demerged Undertaking means the entire undertaking of the Demerged Company pertaining to the FILA Business, as of the Appointed Date, and shall include (without limitation):

Demerged Undertaking means the entire activities, operations, business division and undertaking of the Demerged Company pertaining to the E-Commerce and Logistics business which is being transferred to the Resulting Company on a going concern basis along with all related assets, liabilities, employees, rights, powers, of whatsoever nature and kind, and wheresoever situated, and shall include (without limitation) in particular the following –

Demerged Undertaking means the undertakings, businesses, activities and operations pertaining to the Diversified Business of the Demerged Company, on a going concern basis, and shall mean and include, without limitation, the following: