GAAR Panel terms Hinduja Group demerger an ‘impermissible avoidance arrangement’
Hinduja Global Solutions Ltd (‘HGSL’) had entered into a Scheme of Arrangement with NXTDigital Ltd involving demerger of digital, media and communications business of NXTDigital Ltd into HGSL. The Scheme was approved by NCLT Mumbai on 11 November 2022. The Appointed Date for the demerger was 01 February 2022.
