Tech
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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