February 05, 2020
1. Commencement Notification for Section 230(11) and Section 230(12) read with Companies (Compromises, Arrangements and Amalgamations) Amendments, Rules 2020
MCA vide its notification dated February 3, 2020 has brought into effect Section 230(11) and Section 230(12) of Companies Act, 2013 along with Companies (Compromises, Arrangements and Amalgamations) Amendments, Rules 2020.
This notification has laid down a framework for compromise and arrangements to include a takeover in case of companies other than listed Companies by members holding not less than three-fourths of the shares in the Company.
However, for listed Companies, the takeover offer shall continue to be as per SEBI Regulations.
2. National Company Law Tribunal (Amendment) Rules, 2020 dated 03.02.2020
With regard to enforcement of section 230(12), MCA has amended National Company Law Tribunal Rules, 2016 whereby any aggrieved party with respect to the takeover of companies other than listed companies can make an application to the Tribunal in Form NCLT-1 along with the documents as mentioned in the Annexure B of the said rule and an application fee of Rs. 5000.
3. Nidhi (Amendment) Rules, 2020 dated 03.02.2020, effective from 10.02.2020
MCA has notified the Nidhi (Amendment) Rules, 2020 whereby e-form NDH-1 for return of statutory Compliance, e-form NDH-2 for application for extension of time and e-form NDH-3 for return of Nidhi Company for the half year ended have been substituted with effect from 10th Feb, 2020.