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of <h1>Section 233 simplified mergers for small and group companies: fast-track approvals, objections, and protection for creditors, shareholders</h1> Section 233 provides a simplified merger or amalgamation process for small companies, holding companies with wholly owned subsidiaries, and other prescribed classes. It requires notice of the proposed scheme, consideration of objections, approval by at least 90% of shareholders and creditors (in value), and filing of solvency declarations. The approved scheme is filed with the Central Government, Registrar, and Official Liquidator, who may object within prescribed time limits. If objections arise or public or creditor interest is affected, the matter may be referred to the Tribunal under section 232. Registration of the scheme dissolves the transferor without winding up, transfers all assets, liabilities, proceedings, and handles dissenting stakeholders' rights.
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