Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
The notification amends the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 by inserting a new sub-rule (5) in rule 25A. It provides for the procedure to be followed in cases where a foreign holding company merges or amalgamates with its wholly owned Indian subsidiary company. The key requirements are: both companies must obtain prior approval from the Reserve Bank of India, the Indian transferee company must comply with Section 233 of the Companies Act, 2013, the application for merger/amalgamation must be made by the Indian transferee company to the Central Government u/s 233, and the declaration required under sub-rule (4) must be made at the time of making the application u/s 233. The amendment comes into force on 17th September, 2024.
The notification amends the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 by inserting a new sub-rule (5) in rule 25A. It provides for the procedure to be followed in cases where a foreign holding company merges or amalgamates with its wholly owned Indian subsidiary company. The key requirements are: both companies must obtain prior approval from the Reserve Bank of India, the Indian transferee company must comply with Section 233 of the Companies Act, 2013, the application for merger/amalgamation must be made by the Indian transferee company to the Central Government u/s 233, and the declaration required under sub-rule (4) must be made at the time of making the application u/s 233. The amendment comes into force on 17th September, 2024.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
