CMA Final · Corporate and Economic Laws · Compromises, Arrangements and Amalgamations
Under the proviso to section 234(1), the Central Government may make rules on mergers and amalgamations with foreign companies in consultation with which body?
The Reserve Bank of India. The proviso to section 234(1) allows the Central Government to make rules on cross-border mergers and amalgamations in consultation with the RBI. SEBI, the Competition Commission and the Institute are not named in that provision.
- ASecurities and Exchange Board of India
- BCompetition Commission of India
- CReserve Bank of IndiaCorrect
- DInstitute of Cost Accountants of India
Explanation
The proviso to section 234(1) empowers the Central Government to make rules in consultation with the Reserve Bank of India for mergers and amalgamations under the section. SEBI and the CCI are not mentioned in this provision.
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