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December 2023

From Published Accounts

By Himanshu Kishnadwala, Chartered Accountant
Reading Time 10 mins

COMPILERS’ NOTE:

Post Covid, companies are undertaking several mergers and acquisitions. Accounting for the same is primarily governed by Ind AS 103 and the schemes as approved by NCLT. Given below are disclosures by two companies on mergers and acquisitions for the year ended 31st March, 2023.

Asian Paints Ltd

MERGERS, ACQUISITIONS AND INCORPORATIONS

(a)    Scheme of amalgamation of Reno Chemicals Pharmaceuticals and Cosmetics Private Limited with the Parent Company:

On 2nd September, 2021, the National Company Law Tribunal, Mumbai approved Scheme of amalgamation (“the Scheme”) of Reno Chemicals Pharmaceuticals and Cosmetics Private Limited (“Reno”), a wholly owned subsidiary of the Parent Company, with the Parent Company. Pursuant to the necessary filings with the Registrars of Companies, Mumbai, the Scheme has become effective from 17th September, 2021 with the appointed date of 1st April, 2019. There is no impact of amalgamation on the Consolidated Financial Statements. The accounting treatment is in accordance with the approved scheme and Indian accounting standards.

(b)    Scheme of amalgamat

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