Examples of No Objection Certificate in a sentence
While tendering Shares under the offer, non-resident shareholders shall be required to submit a No Objection Certificate (“NOC”) / Tax Clearance Certificate (“TCC”) from the Income-tax Authorities under Section 195(3) or Section 197 of the I-T Act along with the Bid cum Acceptance Form, indicating the amount of tax to be deducted by the Acquirer before remitting the consideration.
While tendering Shares under the Offer, NRIs/OCBs/foreign Shareholders shall be required to submit an No Objection Certificate (“NOC”)/Tax Clearance Certificate (“TCC”) from the Income-tax Authorities under Section 195(3) or Section 197 of the I-T Act along with the Form of Acceptance-cum-Acknowledgement, indicating the amount of tax to be deducted by the Acquirers/PAC before remitting the consideration.
Principal Stockholder shall promptly, and in any event prior to the Effective Time, procure the No Objection Certificate and deliver to the Parent a copy of the No Objection Certificate obtained from the Indian Tax Authority certifying that the Indian Tax Authority has no objection to the Principal Stockholder Divestment, without any attendant conditions being imposed on the Principal Stockholder Divestment which could prevent the consummation of the Transaction.
Should the FII submit a No Objection Certificate (“NOC”) / Tax Clearance Certificate (“TCC”) from the Income-tax Authorities under Section 195(3) or Section 197 of the I-T Act along with the Bid cum Acceptance Form, indicating the amount of tax to be deducted by the Acquirer(s) before remitting the consideration, the Acquirer will arrange to deduct taxes at source in accordance with such NOC / TCC.
In case of Change in Control or assignment or transfer of rights of a Party under this Agreement to any Third Party, the said Party shall seek No Objection Certificate (“NOC”) from the other Party.