Alerts & Updates 13th Sep 2024
With the view to enable reverse-flip transactions and make the process more efficient, Ministry of Corporate Affairs has amended the Companies Mergers Rules by allowing foreign holding companies to merge with its wholly owned Indian subsidiaries through the fast track merger route. This will certainly be beneficial for all the foreign parent companies relocating back to India to take advantage of Indian markets and the regulatory systems.
Further, Department of Economic Affairs has introduced amendments to the compounding proceedings rules for contraventions under FEMA following the Finance Minister’s announcement on simplifying rules and regulations on foreign investment. The amended rules focus on simplifying and rationalizing the compounding applications process and also launched digital payment options for payments to be made for applications and compounding amounts.
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