Section 233 Companies Act 2013 provides for 'fast-track merger' between:
Answer & Solution
Correct answer: D.
1. Section 233 Companies Act 2013 provides a FAST-TRACK MERGER procedure (without NCLT approval): scheme can be approved by the Central Government (Regional Director).
2. Eligible parties: (a) two or more SMALL COMPANIES; (b) HOLDING COMPANY and its WHOLLY-OWNED SUBSIDIARY; (c) such other class or classes of companies as may be prescribed.
3. Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2021 added START-UP companies (recognised by DPIIT) and start-up + small company combinations.
4. Procedure: notice to ROC + Official Liquidator; meeting of members and creditors; approval by majority in number representing 9/10 in value of creditors and 9/10 in value of members; filing scheme with Regional Director.
5. Hence option A is correct.
_Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 233; Companies (Compromises, Arrangements and Amalgamations) Rules 2016_
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