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of <h1>Clause 234 of Companies Bill, 2011: Rules for Mergers Between Indian and Foreign Companies Require RBI Approval.</h1> The statutory provisions under Clause 234 of the Companies Bill, 2011, address mergers and amalgamations between domestic companies and foreign companies. These provisions apply unless superseded by other laws and require the Central Government, in consultation with the Reserve Bank of India, to establish rules for such transactions. Foreign companies can merge with Indian companies, and vice versa, with prior approval from the Reserve Bank of India. The merger terms may include compensation to shareholders in cash, Depository Receipts, or a combination of both. A 'foreign company' refers to any corporate entity incorporated outside India, regardless of its business presence in India.
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