Meesho secures NCLT approval for reverse flip; faces $280-300 million tax outgo in the US

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The Bengaluru bench of the National Company Law Tribunal (NCLT) has approved ecommerce marketplace Meesho’s plan to demerge its Indian entities from its US parent – in a step towards shifting its domicile to India, as per an order by the tribunal.

According to people in the know, Meesho is expected to face a tax outgo of around $280-300 million in the US to flip back to India.

ET had first reported last week that Meesho’s reverse flip process was in the end stages as the company finalised plans to file a draft red herring prospectus for its…



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Meesho secures NCLT approval for reverse flip; faces $280-300 million tax outgo in the US


The Bengaluru bench of the National Company Law Tribunal (NCLT) has approved ecommerce marketplace Meesho’s plan to demerge its Indian entities from its US parent – in a step towards shifting its domicile to India, as per an order by the tribunal.

According to people in the know, Meesho is expected to face a tax outgo of around $280-300 million in the US to flip back to India.

ET had first reported last week that Meesho’s reverse flip process was in the end stages as the company finalised plans to file a draft red herring prospectus for its…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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