Revised under the authority of the Law Revision Law (1999 Revision). Power to compromise with creditors and members. 1 [232. 22-1st January, 1964 is eligible to be appointed as an independent director under Section 149 of Companies Act, 2013 if the corporate person is a company. All. The merger and amalgamation of corporate constitutes a subject matter of the Companies Act, the courts and law and there are well laid down procedures for valuation of shares and rights of investors. Companies may combine in following ways I. Absorption II. COMPANIES ACT, 2013. Arrangements and Reconstruction 191. compromise/arrangement proposed in connection with a scheme for reconstruction or amalgamation of companies • Powers of the NCLT to give directions • Schedule of fees to be submitted with the application/petition. business) or shares (collectively known as “assets”) may be transferred by the owner (“Transferor”) to the recipient (“Transferee”). Power to acquire shares of members dissenting from scheme or contract approved by majority. Originally enacted- Cap. Section 232 of the Companies Act, 2013 deals with mergers and amalgamation including demerger. 22. supplanted by new Companies Act, 2013. 2. Amalgamation, as its name suggests, is nothing but two companies becoming one.On the other hand, Absorption is the process in which the one dominant company takes control over the weaker company. The new act has different provisions in relation to different types of restructuring processes as follows: Compromise or arrangements under section 230 & 231of the Act; Amalgamation including demergers falls within section 232 of the Act; An amalgamation of small companies within section 233 of the Act; 1. 15. In Companies Act, 1956 with respect to minority shareholder right for reconstruction and amalgamation of companies, under section 395 states that for the transfer of shares or any class of shares of a company to another company, consent of the holders of at least (9/10) i.e. Reconstruction can be carried out: 1 “By the scale of a company under the power contain in its memorandum of association. These are two business strategies adopted by the companies to expand itself and take a competitive position in the market. This was to be effected by a scheme for reconstruction which would result in the old company’s shareholders holding four … Iswariya BS. Modes of winding-up 205. 21. 195. Disclosures. Lodging of Order The terms mergers and amalgamations on the one hand and acquisitions and takeovers on the other are treated here synonymously or interchangeably. Section 233 of the Companies Act, 2013 (CA 2013) dealing with "Merger or Amalgamation of Certain Companies" has also come into force with effect from 15th December, 2016. Arrangements and Reconstruction. Power to acquire shares of minority on take-over 202. Chapter XV (Sections 230–240) of the Companies Act, 2013 (CA 2013) deals with the provisions related to Compromises, Arrangements and Amalgamations.Section 232 of CA 2013 provides for merger and amalgamation of companies. ... section 10FB of the Companies Act… 3. MERGER & AMALGAMATION. Amalgamation, Reconstruction, Mergers, Take-over of Companies The Companies Act, 2013 contains provisions relating to various methods of reorganisation of companies under Sections 230 to 240 of the Act. Remedy against oppression PART XII WINDING-UP A—General 204. Reconstruction and Amalgamation. 192. Banking and insurance. Power to acquire shares of members dissenting from scheme or contract approved by majority. NCLT (Procedure for reduction of share capital of company) Rules, 2016 Amalgamation Demerger Financial Restructuring Acquisition of shares Deals with section 230- 234 Deals with section 235 - 236 Under Section 237 of Companies Act, 2013 Central Government may Amalgamate two Companies in public interest Consolidation of businesses / entities Divest non-core business Acquiring interest in new business/ entity Reconstruction and Amalgamation. Legally entitled to the repayment of capital in the event of liquidation Managing director a new company Ltd.. Sec a Private company can Voluntarily converted into public company _____ a mcq on liquidation of companies pdf. The notified sections will be effective from 15 December, 2016, and are likely to bring a SECTION 232. 4. as per the provisions of the Companies Act, 2013 for approving any scheme of arrangement, compromise or reconstruction of companies under Sections 230 to 232 of the Companies Act, 2013. Merger Amalgamation Companies Act 2013. In relation to merger and acquisitions (M&A), Companies Act, 2013 has replaced the 1956 Act. The new Act enhanced disclosure norms and providing protection to investors and minorities thereby making M&A smooth and efficient. BSD and SSD reliefs may be granted on the instruments to transfer the assets if certain conditions are met. 204. Insurance of directors, etc. Power to compromise with creditors and members. Power to compromise with creditors and members. Power to acquire shares of members dissenting from scheme or contract approved by majority. “Order” means an order passed by the NCLT sanctioning the Scheme of Amalgamation. 255) to the Insolvency and Bankruptcy Code, 2016, w.e.f. Section 234 of the Companies Act, 2013 deals with the amalgamation of companies with a foreign company. Right to indemnity. 33 of 2009, 37 of 2010, 16 of 2011, 29 of 2011, 6 of 2012, 14 of 2012, 29 of 2012, 1 of 2013, 6 of 2013, 14 of 2015, 3 of 2016, 2 of 2017, 42 of 2017, 46 of 2018, 37 of 2018, and the Companies (Amendment of Schedule) Order, 2011. 215G- Effect of Amalgamation – The date shown in the notice of amalgamation - Will be effective the date of amalgamation. 193. It moves from the regime of control to that of liberalization/ Provisions for facilitating reconstruction and amalgamation of companies 201. Amalgamation –means an amalgamation pursuantto the provisions ofthe Companies Act 1956 or any otherstatute whichmay be applicable to companies. Definition of “company” for the purpose ofSf Sec 391- 394 Sec 390- ‘company’ means any “company liable to be wound up under this Act”: {Landmark ruling in Khandelwal Udyog Ltd. and ACME Mfg. It requires companies to make application to the court under section 391, which empowers the court to sanction the compromise or arrangement proposed by the companies. A feature which is common in all cases of merger viz. 9. Companies Act 2013 and the new draft 2016 does not contain any express provision to this effect, except that Clause 230 contains that copy of order has to be filed with Registrar within 30 days of receipt of order. Section – A : Companies Act Page No. THE COMPANIES ACT No. Liability of members 206. Effective Date: 15/12/2016. 192. The term Amalgamation is taken to mean as the union of two or more companies … Introduction of Companies Act, 2013 was a landmark event in the history of corporate laws of India. Affidavit of Service: Liability to Service: The Chairperson appointed for the meeting of the company … Provisions relating to merger, amalgamation and winding-up etc. 194. TOOLS OF RESTRUCTURING Merger / Amalgamation Demerger Financial Reconstruction Acquisition of shares Deals with section 230- 234 Deals with section 235 - 236 Under Section 237 of Companies Act, 2013 Central Government may Amalgamate two Companies in public interest Application of repealed Act 207. [ Effective from 15th December, 2016] (1) Where an application is made to the [2] Tribunal under section 230 for the sanctioning of a compromise or an arrangement proposed between a company and any such persons … or the scheme in the Court, thus opening up the amalgamation to a lot of unnecessary scrutiny.xx The Companies Act, 2013 The 2013 Act has S. 235 which seeks to protect the minority shareholders. In amalgamation, two or more companies are fused into one by merger or by one taking over the other. Sec. The restructuring could be undertaken by any entity or business unit, whether it is run as a sole proprietorship or partnership or society or in any other form of organization. Company Law in India is undergoing a complete change but the provisions relating to mergers covered under the Companies Act, 2013 are yet to be notified. Section 233 of the Companies Act, 2013 deals with the amalgamation of small companies. 194. as Amalgamation/ Absorption/ External reconstruction. Provisions for facilitating reconstruction and amalgamation of companies 201. On 7th December 2016, the Sl. download pdf. 2. Regulatory and other information. Definition of “company” for the purpose ofSf Sec 391- 394 Sec 390- ‘company’ means any “company liable to be wound up under this Act”: {Landmark ruling in Khandelwal Udyog Ltd. and ACME Mfg. Consequently, w.e.f. 15.12.2016 all the matters relating to Compromises, Arrangements, and Amalgamations (hereafter read as “CAA”) will be dealt as per provisions of Companies Act, 2013 and The Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016. Section relating to CAA is Section 230-233 and 235-240. Companies Act, 1956 (CA) facilitates compromise, arrangement or reconstruction of a business (sections 390 to 396A of CA) The terms ‘merger’ and ‘amalgamation’ are synonymous In amalgamation, the undertaking, i.e. Provisions for facilitating reconstruction and amalgamation of companies. 3. Modes of winding-up 205. Information, communication, entertainment. Information as to compromise with creditors and members. Arrangement! Merger and amalgamation of companies → ... a scheme for the reconstruction of the company or companies involving merger or the amalgamation of any two or more companies; and (b) that under the scheme, ... of the Companies Act, 2013-General Circular 09/2019 dated 21.08.2019. 1[Omitted] Reference 1. 2— Objects of this Act. Section 325 of Companies Act 2013: Application of insolvency rules in winding up of insolvent companies [Omitted w.e.f. When a company undergo amalgamation or reconstruction, the shares or the whole business which is collectively known as the assets of the company, may be transferred by the owner of the company to the recipient. Information as to compromise with creditors and members. i.e., Compromise, Arrangements, Reconstruction, Amalgamation & Mergers. Financial reporting. Notified Date of Section: 7/12/2016. 192. 3453(E) dated 15.11.2016]. Amalgamation is defined as the combination of one or more companies into a new entity. 200. Mergers, Amalgamation and Demergers of Companies under the Companies Act 1956 are governed by sections 391 to 396 Companies Act 1956. METHODS OF INTERNAL RECONSTRUCTION . Chapter XV (Section 230 to 240) of Companies Act, 2013(the Act) contains provisions on ‘Compromises, Arrangements and Amalgamations’, that covers compromise or arrangements, mergers and amalgamations, Corporate Debt Restructuring, demergers, fast track mergers for small companies/holding subsidiary companies, cross border mergers, takeovers, amalgamation of companies … Provisions for facilitating reconstruction and amalgamation of companies. Since then, the Ministry of Corporate Affairs has made a phased transition from the Companies Act, 1956 to the new Act. 4. Updated Till : June 03, 2021. 64. Section 686 provides that before the effective date of the amalgamation proposal, the court may disallow or modify the amalgamation ; Companies Act 2013 - Features, New Amendments, Comparison with Indian Companies Act 1956. Liability of members 206. 1.Regulatory Framework For Merger/Amalgamation The Regulatory Framework of Mergers and Amalgamations covers . Chapter 12 Simplified Approach to Company Law 278 Chapter overview Regulatory Framework for Merger/Amalgamation A. Power to compromise with creditors and members. The Companies Act, 2013 . Section 230-240 of the Companies Act, 2013 ("the Act") provide us with a mechanism where in a scheme of arrangement may be entered into between a company, its creditors or and its members. Arrangements and Reconstruction 191. 193. External reconstruction is regulated by section 232 of the Companies Act, 2013. Merger or Amalgamation of certain companies. 3453(E) issued dated 15.11.2016. Sec 394 - Provisions for facilitating reconstruction and amalgamation of companies. 22. - (1) The notice of the proposed scheme, under clause (a) of sub-section (1) of section 233 of the Act, to invite objections or suggestions from the Registrar and Official Liquidator or persons affected by the scheme shall be in Form No. 15.1. Section 686 provides that before the effective date of the amalgamation proposal, the court may disallow or modify the amalgamation ; Companies Act 2013 - Features, New Amendments, Comparison with Indian Companies Act 1956. Mergers, Amalgamation and Demergers of Companies under the Companies Act 1956 are governed by sections 391 to 396 Companies Act 1956. are made effective under Companies Act, 2013 On 7 December 2016, the Ministry of Corporate Affairs (MCA) issued a notification1, whereby certain sections of the Companies Act, 2013 (‘New Act’) were notified to come into force. 15.11.2016[S.O. Under the Companies Act 2013, the concept of merger & amalgamation is fully explained whereas under Companies Act 1956, the term Companies Act, 2013), the Central Government made the following amendments in ... Amalgamation of Companies 5. 192. 2. For properly deploying the process of internal reconstruction following methods of the stakeholders are assenting to the internal reconstruction This special resolution must be get signed by the tribunal and deposited to the registrar appointed under the Companies Act, 2013. Minorities 195. Sector. Mergers and amalgamations have been dealt widely under the Companies Act 2013. Section 394 of the Companies Act 1956 deals with reconstruction and amalgamation of companies. (1) Where an application is made to the Court under section 391 for the sanctioning of a compromise or arrangement proposed between a company and any such persons as are mentioned in that section, and it is shown to the Court 195. It is a modern and contemporary law enacted after several rounds of deliberations with various stakeholders. Special Resolutions under Companies Act 2013 The below chart contains list of Special Resolutions which are to be passed by all companies (wherever required) under Companies Act 2013 S.NO SECTION PURPOSE 1 12 (5) Change of Registered office outside the … Section 232 of Companies Act, 2013 – Merger and amalgamation of companies. Companies Act, 1956. Amalgamation will not impose any additional burden on the members of the Transferor Company or the Transferee Company. RECONSTRUCTION & AMALGAMATION Sections 394 and 395 provide for facilitating Arrangements for the purpose of „Reconstruction‟ or „Amalgamation‟ of companies . Accounting for Amalgamation, Absorption and External Reconstruction. Minorities. TOOLS OF RESTRUCTURING Merger / Amalgamation Demerger Financial Reconstruction Acquisition of shares Deals with section 230- 234 Deals with section 235 - 236 Under Section 237 of Companies Act, 2013 Central Government may Amalgamate two Companies in public interest In this study we are primarily concerned with the scope and objectives of and law and practice relating to corporate restructuring. Sec 394 - Provisions for facilitating reconstruction and amalgamation of companies. Court approval of indemnity. No. Provisions relating to merger, amalgamation and windingup, - etc. First Notes on. On 31st March, 2012, Thin Ltd. was absorbed by Thick Ltd., the latter taking over all the assets and liabilities of the former at book values. 12 December 2016. b. Transferor Company –meansthe companywhich is amalgamated into another company. Credits and Acknowledgments. 3 —Interpretation of provisions of this Act. INTERNAL RECONSTRUCTION OF COMPANIES Legal position Internal reconstruction is done as per provisions of section 66 of the Companies Act, 2013. (1) In the winding up of an insolvent company, the same rules shall prevail and be observed with regard to— Winding up and dissolution. 1.13. companies under the Companies Act, comments and inputs from the Income Tax Department may invariably be obtained so as to ensure that the proposed scheme of reconstruction or amalgamation has not been designed in such a way as to defraud the Revenue and consequently being prejudicial to public Arrangements and Reconstruction. 200. True 2. [ 4 ] When two companies are merged and are so joined as to form third company or one is absorbed into other or blended with another, the amalgamating company loses its identity. absorption, amalgamation and external reconstruction is (a) purchase of one company by another company (b) liquidation of at least two companies (c) formation of at least one new company corporate restructuring, corporate restructuring, corporate restructuring, corporate restructuring, valuations and insolvency valuations and insolvency valuations and insolvency valuations and insolvency module 1. palakurthi rajan. Arrangements, Reconstruction & Amalgamation under Singapore Companies Act - Part I. CS Meenakshi Jayaraman. Companies Act, 2013. S. 235 mandates an offer may be … The mechanism envisages a mandatory approval3 4of the Tribunal which has replaced the High Court. Read about the highlights of the companies act 2013 and download Indian Companies Act 2013 notes PDF for UPSC 2021 17 of 2015 Date of Assent: 11 th September, 2015 Date of Commencement: Section I on 15th September, 2015 All other provisions: See Section 1 (3) and (4) ARRANGEMENT OF SECTIONS Section PART I—PRELIMINARY I —Short title and commencement. Read about the highlights of the companies act 2013 and download Indian Companies Act 2013 notes PDF for UPSC 2021 Rights of minority on take-over 203. It requires companies to make application to the court under section 391, which empowers the court to sanction the compromise or arrangement proposed by the companies. 3 Act. Provisions for facilitating reconstruction and amalgamation of companies. The new Act has been lauded by corporate organizations for its business-friendly corporate regulations, enhanced disclosure norms and providing protection to investors and minorities, among other factors, thereby … The Companies Act, 2013 (2013 Act) has seen the light of day and replaced the 1956 Act with some sweeping changes including those in relation to mergers and acquisitions (M&A). National Company Law Tribunal Rules, 2016. Permission of Tribunal: The company must get the due permission of the court or tribunal before starting the process of the capital reduction. 193. S.O. Application of repealed Act 207. 61 of the companies act, 2013, a limited company can increase, sub-divide or consolidate all or part of its existing share if authorised by its articles of association. The Companies Act, 2013 contains provisions relating to various methods of reorganisation of companies under Sections 230 to 240 of the Act. i.e., Compromise, Arrangements, Reconstruction, Amalgamation & Mergers. Compromise and Arrangements: The term ‘compromise’implies the existence of adisputesuch as relating to rights. 191. 5. Financial Accounting (B.Com.,BAF,BBI,BMS & other) MULTIPLE CHOICE QUESTIONS (MCQ) SESSION NO 01 1. CHAPTER XIII WINDING UP AND DISSOLUTION 63. 2. Fast Track Mergers and Amalgamation. 2. Minorities. COMPANIES ACT, 2013. Information as to compromise with creditors and members. Exemption from court process Companies Act 2013 Companies Act 1956 Option to following companies to undertake corporate reorganizations like amalgamation, demerger, etc. Merger and Amalgamation of Companies. The Companies Act, 2013 (“The Act”) is a historic legislation which has replaced existing Company Law which is 56 years old. ... reconstruction or amalgamation shall be fully and effectively carried out. These sections amongst others, relate to: Companies Act, 1956. It requires companies to make application to the court under section 391, which empowers the court to sanction the compromise or arrangement proposed by the companies. 15-11-2016] Section 325 was omitted pursuant to section 255 of the Insolvency and Bankruptcy Code, 2016 vide Notification No. OTHER APPLICABLE PROVISIONS OF THE COMPANIES ACT, 2013 I. PREAMBLE This Scheme of Amalgamation is presented under Sections 230 to 232 of the Companies Act, 2013 and other applicable provisions, if any, of the Companies Act, 2013, as may be applicable, for amalgamation … 194. Explain the term Amalgamation Absorption & Reconstruction Amalgamation: When a new company (Amalgamated company/purchasing company) is formed to take-over the business of two or more existing companies (amalgamating company/vendor company), it is called amalgamation. Amalgamation or merger is also a method of reconstruction. 34 1 The Companies Act, 2013 1 – 22 Section – B : Other Corporate Laws 2 SEBI Laws and Regulations 23 – 31 3 The Competition Act, 2002 32 – 36 4 Foreign Exchange Management Act, 1999 37 – 41 5 Laws Related to Banking Sector 42 – 48 6 Laws Related to Insurance Sector 49 – 54 Legends used in the Presentation. Power to compromise with creditors and members. The Companies Act, 2013 (‘2013 Act’), enacted on 29 August 2013 on accord of Hon’ble President’s assent, has the potential to be a historic milestone, as it aims to improve corporate governance, simplify regulations, enhance the interests of minority investors and for the first time legislates the role of whistle-blowers. Amalgamation is the process where two different business entities join together for the purpose of making a totally new business entity to sustain in the market by absorbing the other company. Amalgamation is the consolidation or combination of two or more companies known as the amalgamating companies usually the companies that operate in the same or similar line of business to form a completely new company whereas merger refers to the consolidation of two or more business entity to form one single joint entity with the new management structure and new business ownership … 205. without Court process Between two or more small companies as No provisions for exemption from court process for defined in the Cos Act 2013. Remedy against oppression PART XII WINDING-UP A—General 204. MERGER AND AMALGAMATION OF COMPANIES. Internal Reconstruction V. Merger (A) Any Of Above (B) None Of Above (C) Any Except (Iv) (D) Any Except (V) 2. Amalgamation Demerger Financial Restructuring Acquisition of shares Deals with section 230- 234 Deals with section 235 - 236 Under Section 237 of Companies Act, 2013 Central Government may Amalgamate two Companies in public interest Consolidation of businesses / entities Divest non-core business Acquiring interest in new business/ entity Information as to compromises with creditors and members. 208. However, one should remember that Amalgamation as its name suggests, is nothing but two companies becoming one. Mergers, Amalgamation and Demergers of Companies under the Companies Act 1956 are governed by sections 391 to 396 Companies Act 1956. This process can also be referred as reconstruction as there is a new formation of completely new entity. Thereby, amalgamation includes absorption. 191. Arrangements and Reconstructions 206. According to sec. It corresponds to S. 395 of the 1956 Act. the amalgamation proposal all proceedings pending by or against. CAA. The new Companies Act (2013) gives a chance to make up for lost time and make our corporate directions more contemporary, as likewise possibly to make our corporate administrative structure a model to imitate for different economies with comparable qualities and practices. (a) internal reconstruction (b) absorption (c) external reconstruction (d) amalgamation 8. 2013 Act i.e. Amalgamation and External Reconstruction: Problem and Solution # 2. OTHER APPLICABLE PROVISIONS OF THE COMPANIES ACT, 2013 I. PREAMBLE This Scheme of Amalgamation is presented under Sections 230 to 232 of the Companies Act, 2013 and other applicable provisions, if any, of the Companies Act, 2013, as may be applicable, for amalgamation of Suremi Prior… Read More Section 262 of the Companies Act, 2013: Sanction of scheme ... - A scheme of reconstruction or amalgamation, Omitted by the Eleventh Schedule (Sec. Rights of minority on take-over 203. download free pdf. By scheme of arrangement. Information as to compromise with creditors and members. Power to acquire shares of minority on take-over 202. Amalgamation III. Corporate law updates. Chapter XV of Companies Act 2013 deals wi th Compromises, Arrangements, and Amalgamation. (1) Where an application is made to the Court under section 391 for the sanctioning of a compromise or arrangement proposed between a company and any such persons as are mentioned in that section, and it is shown to the Court company all the liabilities and obligations. 194. Made By RS. Minorities 195. The Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016 includes provision for determination of sickness, application for revival, appointment of interim/Company administrator, time bound revival process and if revival not possible, liquidation process through single regulator ‘National Company Law Tribunal’. The company wished to avoid being wound up and negotiated a scheme in which the existing shareholdings in the company would be transferred to a new company which would take over the company’s undertaking and assets as well as its debts. (2) Where a compromise or arrangement is proposed for the purposes of or in connection with scheme for the reconstruction of any company or companies, or for the amalgamation of any two or more companies, the petition shall pray for appropriate orders and directions under section 230 read with section 232 of the Act. It includes: Two or more companies join to form a new company. Provisions for facilitating reconstruction or amalgamation of limited liability partnerships. When companies undergo reconstruction or amalgamation, the undertaking (i.e. If the ABC Limited and DEF Limited are taken over by a new … Ltd., Re, (1977) 47 Com Cases 503(1977) 47 Com Cases 503 clarifies the meaning of aboveclarifies the meaning of above phrase all companies registered under the provisions of the Companies Act, By acquiring all or majority of shares in another company. Today, we learn the provisions of … property, assets and liability of one or more company (amalgamating company) are absorbed by an existing or a new The Companies Act, 2013 Chapter-XIX Revival and Rehabilitation of Sick Companies Section 262: Sanction of scheme. Companies Act 2013 for a company incorporated out side India to incorporate subsidiary in India either as public company or a private company. Companies Act, 2013 as introduced, contained 29 chapters, 479 clauses and 7 schedules. x [No. ] Companies Act, 2013 for approving any scheme of arrangement, compromise or reconstruction of companies under section 230 to 240 of the Companies Act, 2013.; 1.6 "Effective Date" means the last of the dates on which all the conditions andmatters referred to in … Absorption or blending of one by the other. 193. Ii ) External reconstruction ( iii ) Amalgamation Ltd. is formed to take over the of. under the Companies Act, 2013 December 15, 2016 In brief Recently, the Ministry of Corporate Affairs (MCA) has notified the much-awaited sections in the Companies Act (CA), 2013 dealing with amalgamation, compromise, arrangement, liquidation and winding up. Let us analyse the legal provisions under the Companies Act 2013: Ltd., Re, (1977) 47 Com Cases 503(1977) 47 Com Cases 503 clarifies the meaning of aboveclarifies the meaning of above phrase all companies registered under the provisions of the Companies Act, are notified under the Companies Act, 2013. Recently, we have discussed in detail section 231 (Power of Tribunal to enforce compromise or arrangement) of CA 2013. Circumstances in which limited liability partnership may be wound up by Tribunal. 1. Power to acquire shares of members dissenting from scheme or contract approved by majority. The new law will External Reconstruction IV. download free pdf. By a compulsory amalgamation companies in the public interest or by and order of the central government. The Companies Act, 2004 203. The term Reconstruction implies the formation of a new company to take-over the Assets of an existing company with the idea that the persons interested and the nature of business substantially remains the same . The Companies Act, 2013 (2013 Act) has seen the light of day and replaced the 1956 Act with some sweeping changes including those in relation to mergers and acquisitions (M&A). registered under the Companies Act, 2013. ACCOUNTING FOR AMALGAMATIONS The accounting issues pertaining to amalgamation as defined under the provision of the companies act’1956 are dealt under Accounting Standard (AS) 14 as evolved by the institute of charted accountant of India. Part 19-02-12 Restriction of losses by reference to capital allowances and renewal allowances (section 555 Taxes Consolidation Act 1997) [PDF] 05-Jul-2016 [PDF… 207. The Companies Act, 2013 (2013 Act) has seen the light of day and replaced the 1956 Act with some sweeping changes including those in relation to mergers and acquisitions (M&A). 262. Provisions for facilitating reconstruction and amalgamation of companies.
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