This case presents a corporate governance issue faced by Linde India Limited, the subsidiary of Linde PLC, a multinational corporation, in the backdrop of its merger with Praxair Inc.  After the merger, the firm engaged in multiple related-party transactions and allocated businesses between LIL and PIPL. The minority shareholders raised concerns with the market regulator, the Securities Exchange Board of India (SEBI), and SEBI's investigation is currently in progress. The case requires participants to evaluate whether the minority shareholders should stay invested or exit the stockholding. The case also provides a setting for understanding the legal environment governing mergers and acquisitions in India.