INSUBCONTINENT EXCLUSIVE:
bench of NCLT for an approval to transfer investment undertakings from Sun Pharma to its Netherlands-based wholly-owned subsidiary
Sun Pharma now has the option to challenge the NCLT ruling in higher courts.
The decision was approved by the Sun Pharma board in May
Many Indian companies were seeking consolidation to help raise funds in overseas subsidiaries.
Sun Pharma, however, said that the company
or indirect wholly-owned subsidiaries
put its consolidation exercise on hold for now
Indian companies have undertaken mergers and demergers with their foreign-held subsidiaries for several purposes
The reasons are as diverse as raising money and tax management.
Sun Pharma has been consolidating its businesses lately
Pharmaceutical Industries
The merger has had a significant impact on the standalone Ind-AS financial statements of the company, including revenue, profit, tax,
The next wave of growth could come from increasing exports to large and traditionally under-penetrated markets such as Japan, China, Africa,
Indonesia, and Latin America.
