Chapter xv section 230 to 240 of companies act, 20the. Pdf cross border merger activity is on the rise in india. It provides a composite code for facilitating mergers and amalgamations which obviates the need for making multiple applications under the act. The ministry of corporate affairs have been dealing with the amalgamation of government companies in the public interest under section 396 of the companies act, 1956 by following the procedures prescribed under companies court rules, 1959 which are applicable to amalgamation under sections 3994 of the companies act, 1956. The terms merger and amalgamation have not been defined in the companies act, 1956 hereinafter referred to as the act though this. The provisions relating to merger and amalgamation are contained in sections 390 to 396a in chapter v of part vi of the companies act, 1956. Amalgamation and mergers consolidation business taxes. Companies act, 1956 has provided for a set of provisions specially dealing with amalgamation of companies, to facilitate the transactions. Legal issues and challenges of crossborder merger and acquisition. Amalgamation and mergers free download as powerpoint presentation. Introduction to companies act 19561 board of directors. Fast and liberal law is required to help merger and amalgamation bargains in indian corporate word, so 60yearold companies act, 1956 act was supplanted by new. Mergers and acquisitions ministry of corporate affairs. Introduction to companies act 19561 free download as powerpoint presentation.
Merger and amalgamation as for indian economy, by explaining a few arrangements of new companies act, 20. The companies act, 1956 consolidates provisions relating to mergers and acquisitions and other. This scheme is known as single window clearance scheme. The companies act, 1956 does not define the term merger or amalgamation. Company by way of merger under this scheme as defined herein.
Companies compromises, arrangements and amalgamations rules, 2016, effective from 15122016 have also been notified by the mca. Further it compares the merger provisions of companies act 1956 and. Simplified procedure for amalgamation of government. All about mergers and amalgamations by lavina bhargava download pdf the author, lavina bhargava, is a 3rd year student of nmims, kirit p. The terms merger and amalgamation have not been defined in the companies act, 1956 hereinafter referred to as the act though this voluminous piece of legislation contains 69 definitions in section 2. Pdf law relating to cross border mergers under companies act.