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of <h1>New Guidelines for RDs and ROCs on Schemes of Arrangement Under Companies Act Sections 391-394.</h1> The circular outlines standardized procedures for Regional Directors (RDs) and Registrars of Companies (ROCs) regarding schemes of arrangement or amalgamation under sections 391-394 of the Companies Act, 1956. It mandates a systematic approach, including timelines for processing notices, communicating with relevant parties, and submitting reports. ROCs must examine issues like filing status, investor grievances, and pending prosecutions, while RDs must assess compliance with statutory procedures, regulatory notifications, and financial arrangements. The circular emphasizes ensuring legal compliance, protecting employee interests, and verifying financial and statutory obligations before finalizing comments for the High Courts.
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