Higher tax fears spur capital restructuring in Corporate India

Inter-se transfers worth Rs 1.5 lakh cr in RIL, Aurobindo

Pavan Burugula & Dev Chatterjee  |  Mumbai 

With a new higher tax regime coming into effect from April 1, top corporates and wealthy investors are in a rush to restructure their shareholding. On Wednesday, Reliance Industries (RIL) announced a restructuring involving Rs 1.3 lakh crore of shares within promoter entities. Similarly, Aurobindo Pharma last week transferred shares totalling Rs 13,200 crore belonging to promoters into a family trust. Investment guru Shivanand Mankekar, too, was seen undertaking similar restructuring. Legal experts said shares worth a few lakh crores or more could be restructured before March ...

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Read our full coverage on tax

Higher tax fears spur capital restructuring in Corporate India

Inter-se transfers worth Rs 1.5 lakh cr in RIL, Aurobindo

Inter-se transfers worth Rs 1.5 lakh cr in RIL, Aurobindo With a new higher tax regime coming into effect from April 1, top corporates and wealthy investors are in a rush to restructure their shareholding. On Wednesday, Reliance Industries (RIL) announced a restructuring involving Rs 1.3 lakh crore of shares within promoter entities. Similarly, Aurobindo Pharma last week transferred shares totalling Rs 13,200 crore belonging to promoters into a family trust. Investment guru Shivanand Mankekar, too, was seen undertaking similar restructuring. Legal experts said shares worth a few lakh crores or more could be restructured before March ... image
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