Authors: Sunil Arora, Partner, Taxation and Ameet Baid, Senior Manager, Taxation
Published in Taxmann, the article talks about Holcim and Adani signing a binding agreement in May 2022 under which Holcim agreed to transfer its India cement business in Ambuja Cements Ltd and ACC Ltd to Adani Group. Given the arrangement of the deal, it is said to be tax neutral on the effective transfer of India business. This article examines the deal structure and initial takeaways, including potential implications under the GAAR regime.
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