Section 232 of Companies Act, 2013: Guidelines for Mergers, Amalgamations, and Tribunal Sanctioned Schemes

Section 232 of the Companies Act, 2013, outlines the process for the merger and amalgamation of companies. It allows a Tribunal to sanction a compromise or arrangement between companies for reconstruction, merger, or division. The transferor company's assets and liabilities are transferred to the transferee company, and meetings of creditors or members are ordered. The merging companies must circulate scheme details, including valuation reports and accounting statements. The Tribunal can sanction the scheme, ensuring compliance with accounting standards. Companies must file the Tribunal's order with the Registrar and report annually on compliance. Non-compliance incurs penalties.

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