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ARTICLE · 16 DECEMBER 2016

MCA Notifies Corporate Restructuring Provisions

Nexdigm Private Limited
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With this notification, from 15 December 2016, corporate restructuring related matters including mergers, demergers, capital reductions, etc. will be filed before and dealt by NCLT...

IndiaCorporate/Commercial Law
Nexdigm Private Limited
Nexdigm Private Limited
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Enforcing the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013, the Central Government (Ministry of Corporate Affairs) vide commencement notification dated 7 December 2016 has appointed 15 December 2016 as the date on which, inter alia, following provisions of the Companies Act, 2013 shall come into force: 

  • Section 48: Variation of shareholders' rights
  • Section 66: Reduction of share capital
  • Section 230 (except sub-section (11) & (12)), sections 231 to 233, and sections 235 to 240: Compromise, arrangement and amalgamations
  • 434 (1) (c): All proceedings of Companies Act, 1956 with reference to compromise, arrangement, winding up, etc. pending with the High Court to be transferred to the National Company Law Tribunal (NCLT).

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