Examples of Demerged Business in a sentence
On De-merger, all the employees of the Demerged Companies No. 1 & 2 employed in the activities relating to the Demerged Business, in service on the Effective Date, if any, shall become the employees of the Transferee Company No. 1 on and from such date without any break or interruption in service and upon terms and conditions not less favorable than those applicable to them in the Demerged Business of the Demerged Companies No. 1 & 2, on the Said Date.
The same was filed with the Registrar of Companies on August 2, 2018, then the Scheme became effective.The 'Appointed Date' as per the Scheme was fixed at March 31, 2017, with effect from which the 'Demerged Undertaking' which inter alia includes all the operations, including assets and liabilities pertaining to the 'Demerged Business' have been transferred to the Trejhara.
Upon the registration of the Demerger in the Polish Companies Register (i.e. upon the registration of the share capital increase of the Acquiring Polish Bank as a result of the Demerger), pursuant to Art 530 § 2 of the CCC, all of the assets and liabilities of RBPL connected with the Demerged Business will be transferred from RBPL to the Acquiring Polish Bank by way of universal succession.
On De-merger, all assets and liabilities including Income Tax and all other statutory liabilities, if any, of Education Business (Demerged Business) of DS Digital Pvt Ltd and Safari Digital Education Initiatives Pvt Ltd (the Demerged Companies No. 1 & 2, respectively) will be transferred to and vest in S Chand and Company Ltd (the Transferee Company No. 1).
Upon the proposed Scheme of Arrangement coming into effect, the Transferee Company will carry on the business of the "Demerged Business Undertaking" (as defined in clause 1.5 of the Scheme of Arrangement), comprising of business activity of FMCG Exports Business Division carried on by HUL including the immoveable properties and manufacturing and/or allied activities of the Units located at Kandla, Pune, Cochin, Etah and Kidderpore, more particularly described in the Scheme, on a going concern basis.
Consequently, immediately following the Demerger Date, BPH will conduct activities which will be limited to the Mortgage Business and the Demerged Business will become part of Alior Bank’s operations.
All liabilities under Tax Laws which relate exclusively or predominantly to the activities or operations of the Demerged Business prior to the Appointed Date shall remain the liabilities of the Demerged Company after the Effective Date, regardless of whether such liabilities arise on or after the Appointed Date.
However where the aggregate book value of liabilities of the Demerged Undertaking transferred and the amount credited to the share capital account as per Clause 15.2, exceeds the book value of the assets of the Demerged Business Undertaking, such excess shall be debited by Resulting Company to the Goodwill Account.
The book value of the Demerged Business Undertaking as defined under clause 1.5 of the Scheme and proposed to be transfered to the Transferee Company is Rs. 70.12 crores (approx.).
Record the assets and liabilities, forming part of the Demerged Business Undertaking- 1 vested in it pursuant to this Scheme, at their respective book values thereof as appearing in the books of Demerged Company at the close of the business day immediately preceding the Appointed Date 1 in accordance with the provision of section 2 (19AA) of the Income Tax Act.