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of <h1>Section 234 enables cross-border mergers between Indian and foreign companies with RBI approval and flexible shareholder consideration</h1> Section 234 of the Companies Act, 2013 permits cross-border mergers and amalgamations between Indian companies and foreign companies incorporated in jurisdictions notified by the Central Government. The general merger provisions of the Chapter apply mutatis mutandis, subject to other applicable laws. The Central Government may frame rules in consultation with the Reserve Bank of India. With prior approval of the Reserve Bank of India, a foreign company may merge into an Indian company or an Indian company may merge into a foreign company. Consideration to shareholders may be paid in cash, depository receipts, or a combination of both. A foreign company includes any body corporate incorporated outside India, regardless of having a place of business in India.
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