Nouns for Overseas Business Acquisition Through AD/GR
acquisition by Indian companies-c-engaged in infonnation technology and entertainment software, pharmaceuticals and biotechnology- through AOL GR stock swap are briefly discussed below.
The norms extend to Indian com panics engaged in (I) infonnation technology and entertainment software, (ii) pharmaceuticals, (iu) biotechnology and (iv) any other activity within . the knowledge based sector, notified ht the Government from time to lime, for the acquisition of overseas companies in their respective areas of business, Indian companies in the sectors/areas specified above are defined as hose registered in India and earning M per cent of their turnover from these areas’ of their operation/business in the three previous financial years, In the case of multiprocessing diversified companies not conforming to the fl per cent criteria. the norms would he applicable f thy have an average annual export earner; of at least Rs 100 crore in these Sculptors/ areas in the three previous financial year~.