This article discusses a Delhi High Court case involving Ambuja Cements Limited, which challenged the imposition of stamp duty on a merger order under the Indian Stamp Act. The court examined the applicability of an exemption provided under the 1937 Notification, which exempts certain mergers between subsidiaries of a common parent company from stamp duty. The court upheld the exemption, providing clarity on the continued applicability of historical exemptions in corporate restructuring, particularly for closely held corporate groups.

This article discusses the recent amendment to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, allowing fast-track mergers between foreign holding companies and their Indian wholly-owned subsidiaries. The amendment simplifies the cross-border merger process by eliminating the need for NCLT approval and mandating only RBI approval. This change facilitates reverse flipping, where foreign companies relocate their headquarters to India, thereby benefiting from India's growing IPO market and investor confidence.