Pursuant to MCA Notification dt. 13.04.2017 notifying Section 234 of the Companies Act, 2013 and the Companies (Compromises, Arrangements and Amalgamation) Amendment Rules, 2017 relating to mergers and amalgamation between Indian Company & Foreign Company, RBI vide its Press Release No. 2016-2017/2909 on Wednesday, April 26, 2017 proposed and placed on its website draft guidelines for Cross Border Merger which may be called as Foreign Exchange Management (Cross Border Merger) Regulations, 2017.
It is requested to offer views and comments from stakeholders on the proposed Regulations which may be sent latest by May 9, 2017 through mail at firstname.lastname@example.org with the subject as “Cross Border Mergers – Comments/Suggestions”.
The said press release and draft guidelines can be accessed from the following link:PressRelease26.04.2017_FEMA_CrossBorderMerger_DraftReg FEMA_CrossBorderMerger_DraftReg