11/09/2024
Summary of the MCA Notifications dated 09/09/2024 and 10/10/2024.
These notifications are integrated in our free-to-use website ca2013.com.
MCA notifies the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2024.
The following provisions have been introduced for merger or amalgamation of ‘transferor holding foreign company incorporated outside India’ with ‘transferee wholly owned subsidiary Indian company’:
a. Prior approval of Reserve Bank of India is to be obtained by both the Companies
b. The Indian Company shall make the application as per the provisions of Merger and Amalgamation of certain companies and the corresponding rule shall apply.
c. The declaration in Form CAA-16 (Declaration in case of a compromise/ arrangement/ merger/ demerger between an Indian company and a company/ body corporate which has been incorporated in a country which shares land border with India) is to be submitted at the application stage.
Click here to view this MCA Notification.
The Central Government in consultation with the Reserve Bank of India notifies ‘National Bank for Financing Infrastructure and Development’ as a Public Financial Institution.
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