‘Companies (Compromises, Arrangements & Amalgamations) Rules, 2016’ notified by MCA

MCA Notifies ‘Companies (Compromises, Arrangements & Amalgamations) Rules, 2016’

The Ministry of Corporate Affairs (MCA) has notified the ‘Companies (Compromises, Arrangements & Amalgamations) Rules, 2016’, which shall be applicable from 15 Dec. 2016, as under:

MCA Notification dt. 14 Dec. 2016

G.S.R. 1134(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with sections 230 to 233 and sections 235 to 240 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely:-

1. Short Title and Commencement. –

(1) These rules may be called the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016.

(2) They shall come into force with effect from 15th December, 2016.

2. Definitions.-

(1) In these rules, unless the context otherwise requires.-

(a) “Act” means the Companies Act, 2013 (18 of 2013);

(b) “Annexure” means the annexure to these rules;

(c) “Form” means a form set forth in annexure “A” to these rules which shall be used for the matter to which it relates, and includes an electronic version thereof;

(d) “Liquidator” means the Liquidator appointed under the Act or under the Insolvency and Bankruptcy Code, 2016 (31 of 2016);

(2) All other words and expressions used in these rules but not defined herein, and defined in the Act or in the Companies (Specification of Definitions Details) Rules, 2014 or in the National Company Law Tribunal Rules, 2016, shall have the same meanings respectively assigned to them in the Act or in the said rules. (contd… please refer above attachment)

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