Cross-border merger rules updated to replace NCLT with Competent Authority for merger approval references.

Cross-border merger rules updated to replace NCLT with Competent Authority for merger approval references. https://www.taxtmi.com/highlights?id=100561 The RBI amends the Foreign Exchange Management (Cross Border Merger) Regulations, 2018 by substituting "Competent Authority" for "NCLT" in regulations 4, 5, 7 and 9, so merger-related approvals now refer to the authority empowered under the Companies Act, 2013 or subordinate legislation to approve mergers or amalgamations. It also omits clause (vii) in regulation 2 and inserts a new definition of "Competent Authority" in regulation 2. The amendment takes effect from the date of publication in the Official Gazette. en-us Sat, 06 Jun 2026 19:52:52 +0530 Sat, 06 Jun 2026 19:52:52 +0530 TaxTMI RSS Generator Cross-border merger rules updated to replace NCLT with Competent Authority for merger approval references. https://www.taxtmi.com/highlights?id=100561 The RBI amends the Foreign Exchange Management (Cross Border Merger) Regulations, 2018 by substituting "Competent Authority" for "NCLT" in regulations 4, 5, 7 and 9, so merger-related approvals now refer to the authority empowered under the Companies Act, 2013 or subordinate legislation to approve mergers or amalgamations. It also omits clause (vii) in regulation 2 and inserts a new definition of "Competent Authority" in regulation 2. The amendment takes effect from the date of publication in the Official Gazette. Highlights FEMA Sat, 06 Jun 2026 19:52:52 +0530 https://www.taxtmi.com/highlights?id=100561