Approval for Mergers & Acquisitions for Starts-ups & MSMEs to be given within 60 days

New Delhi, May 17 (KNN) The Corporate Affairs Ministry (MCA) announced on Tuesday that Start-ups and MSMEs will now be able to secure approval for mergers and acquisitions (M&As) within 15 days that can go up to a maximum of 60 days.

This alteration in the rules will make the process faster and simpler. 

Failure to do so within the time limit will be considered a deemed approval, notified MCA.

As per the notification, if the MCA doesn't receive any objection from the Registrar of Companies (RoC) and official liquidators within 30 days and if it's in the interest of public or creditors of the companies, the ministry can confirm a merger or amalgamation within 15 days.

It will come into effect from June 15, said an official notification.

Currently, there is no specified time frame for the approval from the RoC or official liquidators.  (KNN Bureau)