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Recently, the Rajya Sabha passed the Companies Bill, 2012 (Bill) which was already passed by the Lok Sabha in December, 2012. The Bill is now one step away (President’s assent) from becoming Companies Act, 2013 which will replace half a century old Companies Act, 1956.
While the draft Rules are awaited, We thought it appropriate to analyse the provisions of the Bill and provide insight into the key provisions of the Bill and accordingly we will be coming up with a series of bulletins dealing with specific set of provisions, starting with the topic Compromise, Arrangements, Amalgamations and Demergers, The enclosed Volume – I of the series deals with material differences in the provisions in the Bill relating to Arrangement/Amalgamations/Demergers etc. as compared to similar provisions under the Companies Act, 1956. We will bring regular bulletins in this series covering other important provisions of the Bill.