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September 2024

From Published Accounts

By Himanshu Kishnadwala, Chartered Accountant
Reading Time 25 mins

COMPILERS’ NOTE

Accounting for business combinations (mergers, amalgamations, etc.) is governed by Ind AS 103, including the Appendix thereof which governs mergers under Common Control. As per the Companies Act, 2013, the schemes also require approval from the National Company Law Tribunal (NCLT). Given below are illustrations of disclosures in a few large companies.

ASIAN PAINTS LIMITED (31ST MARCH 2024)

From Notes to Consolidated Financial Statements Mergers, Acquisitions, and Incorporations

a) Equity infusion in Weatherseal Fenestration Private Limited (Weatherseal):

During the previous year on 14th June, 2022, the Parent Company subscribed to 51 per cent of the equity share capital of Weatherseal for a cash consideration of ₹18.84 crores. Accordingly, Weatherseal became a subsidiary of the Parent Company. Weatherseal is engaged in the business of interior decoration / furnishing, including manufacturing PVC windows and door systems. The acquisition will enable the Group to widen its offerings in the home decor space and is a step forward in the foray of being a complete home decor solution provider.

In accordance with the Shareholders Agreemen

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