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ARTICLE · 06 JUNE 2023

Timelines For Fast-Track Mergers

JSA Advocates & Solicitors
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The Ministry of Corporate Affairs ("MCA") vide its notification dated May 15, 2023, has notified amendments in the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 ("Principal Rules")...

IndiaCorporate/Commercial Law
Sidharrth Shankar
Sidharrth Shankar
Sourav Nath
Sourav Nath
Ashish Baid
Ashish Baid
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The Ministry of Corporate Affairs ("MCA") vide its notification dated May 15, 2023, has notified amendments in the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 ("Principal Rules"), vide the Companies (Compromises, Arrangement and Amalgamations) Amendment Rules, 2023 ("Amendment Rules"). The Amendment Rules come into effect from June 15, 2023.

Section 233 of the Companies Act, 2013 ("CA 2013") read with rule 25 of the Principal Rules prescribe the provisions in relation to the scheme of merger or amalgamation of small companies; or between holding and wholly owned subsidiary company; or between some other class of companies as specified under section 233 of CA 2013. The merger and amalgamation process under section 233 of CA 2013 is commonly known as 'fast-track merger'. The Amendment Rules imply specific timelines for government authorities such as the registrar of companies and the official liquidator to provide their observations or

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