RBI:
The Foreign Exchange Management (Cross Border Merger) Regulations, 2018 have been amended to replace the term “NCLT” with “Competent Authority” across all regulations, defining it as any authority legally empowered under the Companies Act, 2013 to approve a scheme of merger or amalgamation.
[Notification No. FEMA 389(1)/2026-RB dated 05.06.2026]
