Acquisition of Shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 March 2010 Can any body guide me on the procedure of acquisition of shares of private limted by public limited company.What sections should be reffered.
A checklist on this will also help.

Rasesh

Rasesh (Expert)
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09 March 2010 The Procedure for acquisition is as under:

1) Board Resolution in the Public Limited company for acquisiton of the shares of private limited company and granting authority to the officials to do various acts in the matter.

2) Verify the investments limits under Section 372A.

3) In case the company needs borrowings to acquire the Pvt. Ltd., then check the borrowing limits u/s 293(1)(d)

4) Agreement for taking over the management of the Pvt. Ltd. Co., which should specify the value of assets, liabilities, contingent liab., workers etc (in case business is to be taken over)

or Share Purchase Agreement if only shares are purchased from one of the promoter groups of the private limited company.

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