Higher tax fears spur capital restructuring in Corporate India

Inter-se transfers worth Rs 1.5 lakh cr in RIL, Aurobindo

With a new higher tax regime coming into effect from April 1, top corporates and wealthy investors are in a rush to restructure their shareholding. On Wednesday, Reliance Industries (RIL) announced a restructuring involving Rs 1.3 lakh crore of shares within promoter entities. Similarly, Aurobindo Pharma last week transferred shares totalling Rs 13,200 crore belonging to promoters into a family trust. Investment guru Shivanand Mankekar, too, was seen undertaking similar restructuring. Legal experts said shares worth a few lakh crores or more could be restructured before March 31. 

Mukesh Ambani-controlled RIL said 15 promoter group entities would transfer their 1.19 billion