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The Ministry of Corporate Affairs has released theCompanies (Compromises, Arrangements and Amalgamations) Amendment Rules 2021, to further amendthe Companies (Compromises, Arrangements and Amalgamations) Rules, 2016.Read the official notificationand provisions of the amended rules below: MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st February, 2021 G.S.R. 93(E).In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with sections 230 to 233 and
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FAQ :
These are new rules issued by the Ministry of Corporate Affairs to amend the existing Companies (Compromises, Arrangements and Amalgamations) Rules of 2016.
The amendment rules came into force on the date of their publication in the Official Gazette.
A significant change is the introduction of a new sub-rule (1A) to rule 25, which allows schemes of merger or amalgamation under section 233 of the Act between specific types of companies.
Schemes can now be entered into between two or more start-up companies, or between one or more start-up company and one or more small company.
A 'start-up company' is defined as a private company incorporated under the Companies Act, 2013 or 1956, and recognised as such according to the notification number G.S.R. 127 (E), dated 19th February 2019.
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