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TMI BlogCompanies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... s 235 to 240 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 namely :- 1. Short title and commencement.‐ (1) These rules may be called the Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020. (2) They shall come into f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irer, under section 236 of the Act, verify the details of the minority shareholders holding shares in dematerialised form. (2) After verification under sub-rule (1), the company shall send notice to such minority shareholders by registered post or by speed post or by courier or by email about a cut-off date, which shall not be earlier than one month after the date of sending of the notice, on wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te action is being effected in pursuance of the provisions of section 236 of the Act; (b) the minority shareholders whose shares are held in dematerialised form have been informed about the corporate action [a copy of the notice served to such shareholders and published in the newspapers to be attached]; (c) the minority shareholders shall be paid by the company immediately after completion of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om the depository under sub-rule (6), the company shall immediately disburse the price of the shares so transferred, to each of the minority shareholders after deducting the applicable stamp duty, which shall be paid by the company, on behalf of the minority shareholders, in accordance with the provisions of the Indian Stamp Act, 1899 (2 of 1899). (8) Upon successful payment to the minority shar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ignated DEMAT account of the company under sub-rule (6). Explanation. - For the purposes of this rule, if "cut-off date" falls on a holiday, the next working day shall be deemed to be the "cut-off date"." [F. No. 2/31/CAA/2013 - CL.V] K. V. R. MURTY, Jt. Secy. Note : The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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