Cross-border merger regulations updated to replace NCLT with Competent Authority and expand the approval definition. The amendment revises the definition framework in regulation 2 by omitting clause (vii) and inserting a definition of Competent Authority as any authority empowered under the Companies Act, 2013 or subordinate legislation to approve a scheme of merger or amalgamation. It also substitutes the expression 'Competent Authority' for 'NCLT' in regulations 4, 5, 7 and 9, updating the merger approval references used in the principal regulations.
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Provisions expressly mentioned in the judgment/order text.
Cross-border merger regulations updated to replace NCLT with Competent Authority and expand the approval definition.
The amendment revises the definition framework in regulation 2 by omitting clause (vii) and inserting a definition of Competent Authority as any authority empowered under the Companies Act, 2013 or subordinate legislation to approve a scheme of merger or amalgamation. It also substitutes the expression "Competent Authority" for "NCLT" in regulations 4, 5, 7 and 9, updating the merger approval references used in the principal regulations.
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