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of <h1>Simplified Amalgamation Process for Government Companies u/s 396 of the Companies Act, 1956.</h1> The circular outlines a simplified procedure for the amalgamation of government companies under Section 396 of the Companies Act, 1956. It mandates that central or state government companies seeking amalgamation must obtain approval from the respective cabinet, ensuring the process serves the public interest. Amalgamation requires resolutions passed by 100% of voting members and creditor assent. The Central Government must approve and notify the amalgamation, ensuring it does not affect pre-existing rights or obligations. Once approved, the transferor company's registration is canceled, and it ceases to exist. The circular does not preclude applications under Sections 391-394.
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