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Corporate Laws Central Ministry of Corporate Affairs Companies Act, 2013

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

15-May-2023 | CG-DL-E-15052023-245885

Ministry of Corporate Affairs has issued a notification amending the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, effective from 15th June 2023

By virtue of the amendment, in sub-rules (5) and (6) of Rule 25 Merger or Amalgamation of certain companies, sub-rules 5, 6(a) and 6(b) has been substituted.
some highlights of the amendment are-
a) In sub-rule 5, where no objection or suggestion is received within a period of thirty days of receipt of copy of scheme under sub-section (2) of section 233, from the Registrar of Companies and Official Liquidator by the Central Government and the Central Government is of the opinion that the scheme is in the public interest or in the interest of creditors, it may, within a period of fifteen days after the expiry of said thirty days, issue a confirmation order of such scheme of merger or amalgamation in Form No. CAA.12
b) In sub-rule 6, Where objections or suggestions are received within a period of thirty days of receipt of copy of scheme under sub-section (2) of section 233 from the Registrar of Companies or Official Liquidator or both by the Central Government and

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