Western India Regional Council of
The Institute of Chartered Accountants Of India

Law Update Details

 
January 2017 CA. Rahul Joglekar
 
MCA (www.mca.gov.in)

MCA Notification No. GSR 1134(E) dated 14th December 2016 – Companies (Compromises, Arrangements and Amalgamations) Rules, 2016

MCA has notified the aforesaid Rules to lay down the procedures for compromises and arrangements including amalgamations. The Rules include detailed guidelines in respect of calling of meetings of creditors, corporate debt restructuring, price to be paid to minority and dissenting shareholders etc. various enabling sections of the Companies Act have also been notified with effect from 15th December. For complete text of the Rules, please refer the link: http://www.mca.gov.in/Ministry/pdf/compromisesrules2016_15122016.pdf. For a complete list of the sections coming into force from 15th December 2016, please refer the link :http://www.mca.gov.in/Ministry/pdf/commencementnotif_08122016.pdf.

 

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