Facilitating the inbound merger of foreign holding company with Indian Subsidiary

The companies are part of the same group. BVI Hold Co. owned intellectual property concerning the business and value was created therein. There were investors in BVI Hold Co. The subsidiary companies were operation companies. The management desired to integrate and consolidate the companies into a single entity Nexdigm was approached to advise, and project manage the entire business reorganization process end-to-end as desired by the Group in the given timeframe.

The Holding Company (BVI Hold Co.) of the Client was Headquartered in British Virgin Islands. The Client is a leading international auction house conducting live and online auctions. BVI Hold Co. owned intellectual property concerning the business. The BVI Hold Co. was having 4 wholly owned subsidiaries across the globe, out of which 2 were in India (Ind Co. 1 and Ind Co. 2) and others were in United States of America and United Kingdom respectively (US Co. and UK Co.). The Ind Co. 1 was incorporated in India in 2000 and was in the business of providing back-office support to other group companies whereas the Ind Co. 2 was incorporated in 1999 and was engaged in the business to act as auctioneer, commissioner agent, consultant, advisors of artwork, jewellery, other artefacts and real estate and to act as authenticator and valuer of artwork. It was proposed to merge BVI Hold Co and Ind Co.1 with Ind Co. 2.

Nexdigm’s overall project management approach helped achieve the management’s objective of completing the project within the desired timeline despite the complications that occurred due to meeting the requirement of overseas jurisdiction. The Nexdigm project team ensured that the merger was consummated within the timeline set by the Management by resolving every critical issue appropriately and in accordance with the law, delivering to the management’s expectations.