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of <h1>Central Government Can Merge Companies Under Section 396 of Companies Act, 1956; Appeals Allowed on Compensation Assessments.</h1> Section 396 of the Companies Act, 1956, grants the Central Government the power to amalgamate companies in the public interest. The government can order the merger of companies into a single entity with specified rights and obligations, overriding sections 394 and 395. Members or creditors of the original companies must retain similar interests or receive compensation. Affected parties can appeal compensation assessments to the Tribunal. Before issuing an order, the government must send a draft to the companies and consider feedback. Final orders are presented to Parliament.
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