MANU/DCAF/0040/2023

Ministry : Ministry of Corporate Affairs

Notification No. : GSR367(E)

Date of Notification : 15.05.2023

Date of Publication : 15.05.2023

Notification/ Circulars Referred : Notification number G.S.R. 1134(E), dated the 14th December, 2016 MANU/DCAF/0154/2016;Notification number G.S.R. 401 (E) dated 30th May, 2022 MANU/DCAF/0055/2022

Citing Reference:
Notification number G.S.R. 1134(E), dated the 14th December, 2016 MANU/DCAF/0154/2016  Referred

Notification number G.S.R. 401 (E) dated 30th May, 2022 MANU/DCAF/0055/2022  Referred

Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2023

G.S.R.367(E).--In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with section 233 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, namely :-

1. Short title and commencement.--

(1) These rules may be called the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2023.

(2) They shall come into force with effect from 15th day of June, 2023.

2. In the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, for sub-rules (5) and (6) of rule 25, the following sub-rules shall be substituted, namely:-

"(5) Where no objection or suggestion is received within a period of thirty days of receipt of copy of scheme under sub-section (2) of section 233, from the Registrar of Companies and Official Liquidator by the Central Government and the Central Government is of the opinion that the scheme is in the public interest or in the interest of creditors, it may, within a period of fifteen days after the expiry of said thirty days, issue a confirmation order of such scheme of merger or amalgamation in Form No. CAA.12:

Provided that if the Central Government does not issue the confirmation order within a period of sixty days of the receipt of the scheme under sub-section (2) of section 233, it shall be deemed that it has no objection to the scheme and a confirmation order shall be issued accordingly.

(6) Where objections or suggestions are received within a period of thirty days of receipt of copy of scheme under sub-section (2) of section 233 from the Registrar of Companies or Official Liquidator or both by the Central Government and -

(a) such objections or suggestions of Registrar of Companies or Official Liquidator, a........