Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 136

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 10
Chunk 136
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 target company, where the acquirer or its group entities, prior to acquisition, holds more than 25% shares but does not hold more than 50% shares.
d)acquisition of shares pursuant to a bonus issue or stock splits or buyback of shares or subscription to rights issue of shares, not leading to a change in control.
iii.Through its General Circular dated September 19, 2024, the MCA permitted companies to conduct their general meetings through video conference or other audio-visual means or transact items through postal ballot up through September 30, 2025.
MCA amendments during the year ended March 31, 2025
(i)MCA vide its notification, effective from September 17, 2024, further amended the provisions on mergers or amalgamations involving a foreign holding company and its wholly-owned Indian subsidiary. The newly introduced sub-rule 5 under Rule 25A of Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2024 stipulates that both companies must obtain prior approval from the RBI before proceeding. Additionally, the Indian transferee company must comply with Companies Act, 2013 and submit an application to the Central Government for the said merger or amalgamation. This amendment brings more clarity and procedural requirements for cross-border mergers involving foreign holding companies and their Indian subsidiaries.
(ii)On July 15, 2024, MCA issued the Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Amendment Order, 2024. The amendment via this order introduces a pivotal change as it aims to strengthen the reporting framework concerning payments to micro, small and medium enterprises (“MSMEs”). 
According to the revised Order, companies must now report details regarding payments made to MSMEs after 45 days during the half-year reporting period in the prescribed form. Earlier, companies were not required to file the form unless there were outstanding amounts due to MSMEs at the end of the reporting period.
Corporate Social Responsibility
The Companies Act, 2013, read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (the “CSR Rules”), requires that companies meet certain thresholds of net worth, turnover or net profits to constitute a CSR Committee and to spend 2% of the company’s average profits, before taxes for the previous three fiscal years, on certain identified areas of CSR. This requirement became effective April 1, 2014. We have complied with this requirement,