Miscellaneous Questions On M&A In India

Regulatory Requirements – Deposit Monies & Third-Party Intermediary

Q1) Is there any mandatory requirement to deposit monies with the third party?

There is no mandatory requirement to deposit monies with the third party; the same depends upon the intention of the parties to the transaction.

Appointment process for changing stockholders (any tax payable) officers and directors

Q2) What is the procedure to appoint directors and any other officer of the company?

New stockholders and directors require approval of the Board of Directors. In some cases approval of the shareholders at a general meeting may also be required for appointment of directors. Other officers are generally appointed by any director/management personnel so authorised by the Board of Directors in this regard.