Examples of India Human Formulations Undertaking in a sentence
Hence, it will be deemed that the benefits of any tax credits whether central, state, or local, availed vis-à-vis the India Human Formulations Undertaking and the obligations, if any, for payment of taxes on any assets of the India Human Formulations Undertaking or their erection and/or installation, etc.
It is hereby clarified that all assets and liabilities of the India Human Formulations Undertaking, which are set forth in the closing balance sheet of the Transferor Company as on the close of business hours on the date immediately preceding the Appointed Date, shall be transferred at values appearing in the books of account of the Transferor Company as on the Appointed Date.
Under the Scheme, an arrangement is sought to be entered into between the Transferor Company and its equity shareholders (promoter shareholders and non-promoter shareholders) as the India Human Formulations Undertaking of the Transferor Company shall stand transferred to and vested in the Transferee Company.
In the event of any difference or difficulty in determining as to whether any specific legal or other proceedings relate to the India Human Formulations Undertaking or not, a decision jointly taken by the Board of Directors of the Transferor Company and the Transferee Company in this regard, shall be conclusive evidence of the matter.
In compliance with Indian Accounting Standards (Ind AS), the difference between the lump sum consideration and book value of the net asset pertaining to India Human Formulations Undertaking, as on the Appointed Date, shall be credited to profit and loss account or debited to the investment in the Transferee Company, as the case may be.
Upon coming into effect of this Scheme, the Transferor Company shall reduce from its books, the book value of assets and liabilities, as on the Appointed Date, transferred as a part of the India Human Formulations Undertaking pursuant to the Scheme.
Upon coming into effect of this Scheme, the Transferee Company shall record the assets and liabilities comprised in the India Human Formulations Undertaking transferred to and vested in the Transferee Company pursuant to this Scheme, at the respective book values appearing in the books of accounts of the Transferor Company as on the close of business hours on the date immediately preceding the Appointed Date in accordance with Ind AS.
Whether to allow intervention is a matter vested in the discretion of the trial court, and the court’s decision will not be disturbed on appeal absent a manifest abuse of its discretion.
In the circumstances, the rights of the employees of the Transferor Company, engaged in or in relation to the India Human Formulations Undertaking, would in no way be affected by the Scheme.
As a part of the aforesaid consolidation, it is proposed to transfer the India Human Formulations Undertaking of the Transferor Company to the Transferee Company which would, inter alia, bring more focused and concentrated efforts by management to grow the respective operations of both the companies which would be in the best interest of the stakeholders.