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of <h1>New Amendment to Companies Act: Rule 26A Details Minority Shareholding Purchase Process u/s 236.</h1> The Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020, effective from December 17, 2020, introduce new provisions to the Companies Act, 2013. The amendment defines 'corporate action' and adds Rule 26A, detailing the procedure for the purchase of minority shareholding in dematerialized form under Section 236. It mandates companies to verify minority shareholders' details, notify them of a cut-off date for share transfer, and publish notices in newspapers. The company must inform the depository and ensure payment to minority shareholders after the transfer, with any disputes being the company's responsibility.
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