Mergers & Acquisitions (M&A) in
Chennai

IMAK Advisory is an ICAI-registered firm of chartered accountants in Whitefield, Bengaluru, advising founders, family businesses, investors and companies across India on the financial, tax and regulatory side of M&A. The M&A full form is Mergers and Acquisitions: a merger combines companies into one, while an acquisition buys control of a business through its shares, assets or an undertaking.

The structure decides most of the outcome. A share purchase brings the whole company with its history; an asset purchase takes only chosen assets; a slump sale moves an undertaking as a going concern for a lump sum; and a merger or demerger can be tax-neutral if the income-tax conditions are met. GST, stamp duty, FEMA and approvals differ for each, so we model the after-tax result for both sides before the term sheet is signed.

Mergers run through a scheme approved by the National Company Law Tribunal, or through the fast-track route approved by the Regional Director, which since 8 September 2025 covers more classes, including unlisted companies with borrowings up to ₹200 crore. Competition approval is needed above the asset and turnover thresholds or a deal value of ₹2,000 crore where the target has substantial operations in India.

Buyers should not sign without due diligence. A due diligence report format for acquisition covers quality of earnings, net debt, working capital, tax, compliance, material contracts with change-of-control clauses, related parties and recommendations for price adjustments, indemnities and escrow.

Large public deals show the same building blocks. In the Reliance Disney merger, completed in November 2024, Viacom18's media and JioCinema businesses were combined with Star India into a joint venture valued at about ₹70,352 crore; the Disney Jio merger received competition approval with voluntary modifications. We were not involved in that deal; it is cited from public reports.

Value is often lost after closing, so M&A planning includes the first hundred days: bank mandates and approval limits, aligned accounting policies, GST registrations and credit transfer, payroll and employee contracts, assignment of customer and supplier contracts, and tracking of earn-outs, escrow releases and indemnity claims. Sellers who prepare early – clean audited accounts, documented properties, arm's length related-party terms and a vendor review – usually get better prices and faster M&A closings.

The Land Acquisition Act 2013 is a different subject: it governs compulsory acquisition of land by the government, with compensation that is covered by a specific income-tax exemption for awards under that Act. Where a business loses land this way, we help with the tax, accounting and relocation finances, while the legal process stays with advocates.

We are not investment bankers or brokers and do not take commission for finding buyers or sellers. We do not publish fees; stamp duty and tribunal fees are paid at actuals, and our team shares the exact total after reviewing your requirements. Visit us at ITPL Main Rd, Pattandur Agrahara, Whitefield, Bengaluru, Karnataka 560066, call or WhatsApp +91 79798 50684, or email imakadvisoryteam@gmail.com, and the IMAK Advisory team will set out the structure options for your M&A transaction.