Scheme of arrangement -Demerger

Stat Audit 107 views 2 replies

In 2018, NCLT approved the scheme of Arrangement (Demerger). However, for some reasons, Share certificates in respect of equity shares issued to each of the shareholders pursuant to the Scheme of Arrangement  have not yet been issued.  Auditors are mentioning in the report. Is it violative of any Laws/AS etc? Please guide.

Regards, 

Replies (2)

Grateful 

Actually,  to avoid/ defer stamp duty, it is kept in limbo, pending. Basically, a family is vertically split. So demerger came into being. Auditors are avoiding any suggestions.  My reading is violation on each front.

Regards


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