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ARTICLE · 23 JUNE 2023

Restructuring & Insolvency Monthly Update | June 2023

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The Ministry of Corporate Affairs (MCA) vide Notification dated May 15, 2023 revised the procedure governing the issuance of notice of a scheme of merger or amalgamation calling for objections or suggestions...

IndiaInsolvency/Bankruptcy/Re-Structuring
Abhirup Dasgupta
Abhirup Dasgupta
Pratik Ghose
Pratik Ghose
Ishaan Duggal
Ishaan Duggal
Avishek Roy
Avishek Roy
Mukte Halbe
Mukte Halbe
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STATUTORY UPDATES

Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2023

  • The Ministry of Corporate Affairs (MCA) vide Notification dated May 15, 2023 revised the procedure governing the issuance of notice of a scheme of merger or amalgamation calling for objections or suggestions from the Registrar of Companies (RoC) or Official Liquidator and the subsequent confirmation or otherwise of the scheme.
  • The said Notification substitutes sub-Rules (5) & (6) of Rule 25 from the earlier Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 issued on December 14, 2016 vide which the procedure for issuing the notice as required under Section 233 (1)(a) of the Companies Act, 2013 was prescribed.

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