Govt. Amends Merger Rules | Prescribes Norms for Cross-Border Deals Between Foreign Holding Company and Indian WOS
- Blog|News|Company Law|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 11 September, 2024
Latest from Taxmann
Notification No. G.S.R 555(E); Dated: 09.09.2024
Govt. has notified Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2024. A new sub-rule has been inserted to Rule 25A, w.r.t merger or amalgamation of a foreign company with a company and vice versa. Where the transferor foreign company incorporated outside India, is a holding company, and the transferee Indian company, is a wholly-owned subsidiary company incorporated in India, enter into a merger or amalgamation, both companies must obtain prior approval of the RBI.
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
