RBI puts out draft regulations for cross border M&A

Varun Marwah April 27 2017

The Reserve Bank of India (RBI) has come out with its draft regulations on cross border mergers, after the Ministry of Corporate Affairs (MCA) notified Section 234 of the Companies Act, 2013 (Companies Act).

The Companies Act for the first time permits outbound mergers i.e. merger of an Indian company with a foreign one, since the erstwhile law permitted only inbound mergers.

The MCA, on April 13, 2017, notified [

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