Does any tax concessions accrue to a foreign company in case of demerger?

Where a foreign company holds any shares in an Indian company and transfers the same in case of a demerger, to another resulting foreign company, such transaction will not be regarded as transfer for the purpose of capital gain under the Income Tax Act, 1961 if the following conditions are satisfied: The shareholders holding not less than three-fourth in value of the shares of the demerged foreign company continue to remain shareholders of the resulting foreign company, and Such transfer does not attract tax on capital gains in the country, in which the demerged foreign company is incorporated.