AMENDMENT TO THE COMPANIES ARRANGEMENT RULES: A NEW WAY TO SQUEEZE OUT THE MINORITY?

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Published On: 27/02/2020

Practice Area: Corporate & Commercial, Government & Regulatory

Authors:

Pallavi Kanakagiri
Raghav Muthanna P
On February 03, 2020, the Ministry of Corporate Affairs notified Sections 230(11) and Section 230(12) of the Companies Act, 2013 along with the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2020 and the National Company Law Tribunal (Amendment) Rules, 2020 (Amendment) which pertain to arrangements involving takeovers. By way of the Amendment, the MCA has made some key insertions to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 and the National Company Law Tribunal Rules, 2016. The Amendment could have some significant implications, specifically on the minority shareholders of a company. INDUSLAW’s Pallavi Kanakgiri and Raghav Muthanna discuss.

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