Merger or Amalgamation of Certain Companies (1) Notwithstanding the provisions of section 230 and section 232, a scheme of merger or amalgamation may be entered into between two or more small companies or between a holding company and its wholly-owned subsidiary company or such other class or classes of companies as may be prescribed, subject to the following, namely:— (a) a notice of […]

Merger and Amalgamation of Companies (1) Where an application is made to the Tribunal under section 230 for the sanctioning of a compromise or an arrangement proposed between a company and any such persons as are mentioned in that section, and it is shown to the Tribunal— (a) that the compromise or arrangement has been proposed for the purposes of, or

Power of Tribunal to Enforce Compromise or Arrangement 1[(1) Where the Tribunal makes an order under section 230 sanctioning a compromise or an arrangement in respect of a company, it— (a) shall have power to supervise the implementation of the compromise or arrangement; and (b) may, at the time of making such order or at any time thereafter, give

Power to Compromise or Make Arrangements with Creditors and members Section 230 of the Companies Act, 2013, gives companies the power to negotiate and make agreements with their creditors or members under certain circumstances. Here’s a simplified explanation: (1) When a company needs to make a deal with its creditors or members, the Tribunal can

Penalty for Furnishing False Statement, Mutilation, Destruction of Documents. Where a person who is required to provide an explanation or make a statement during the course of inspection, inquiry or investigation, or an officer or other employee of a company or other body corporate which is also under investigation,— (a) destroys, mutilates or falsifies, or conceals or tampers or unauthorisedly removes,

Investigation, etc., of Foreign Companies The provisions of this Chapter shall apply mutatis mutandis to inspection, inquiry or investigation in relation to foreign companies.

Legal Advisors and Bankers Not to Disclose Certain Information Nothing in this Chapter shall require the disclosure to the Tribunal or to the Central Government or to the Registrar or to an inspector appointed by the Central Government— (a) by a legal adviser, of any privileged communication made to him in that capacity, except as respects the name and

Voluntary Winding Up of Company, etc., Not to Stop Investigation Proceedings An investigation under this Chapter may be initiated notwithstanding, and no such investigation shall be stopped or suspended by reason only of, the fact that— (a) an application has been made under section 241; (b) the company has passed a special resolution for voluntary winding up; or

Expenses of investigation (1) The expenses of, and incidental to, an investigation by an inspector appointed by the Central Government under this Chapter other than expenses of inspection under section 214 shall be defrayed in the first instance by the Central Government, but shall be reimbursed by the following persons to the extent mentioned below, namely: —

Actions to be Taken in Pursuance of Inspector’s Report (1) If, from an inspector’s report, made under section 223, it appears to the Central Government that any person has, in relation to the company or in relation to any other body corporate or other person whose affairs have been investigated under this Chapter been guilty of any offence for which