• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi , Feb. 24

IN a bid to facilitate mergers between Indian and foreign companies, the Associated Chambers of Commerce and Industry of India (Assocham) has suggested the Government to emulate the US Delaware corporate model which encourages mergers and acquisitions (M&A) through contract, which means without prior permission of High Courts.

The existing legal regime of mergers in the Indian context involve approvals of High Courts and do not recognise process of mergers through contracts with shareholder approvals as in the US.

In a representation to the Secretary of the Department of Economic Affairs, the Assocham President, Mr Mahendra K. Sanghi, said India needs to adopt the Delaware form of M&A through contract route as per which an Indian purchaser company is facilitated to acquire a foreign-listed company with the permission of its shareholders.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
`Much scope for Indo-Canadian co-operation in research'

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line