India, Sept. 11 -- The Ministry of Corporate Affairs (MCA) has widened the scope of fast-track mergers under the Companies Act, 2013 to further improve ease of doing business and support small and emerging enterprises.
Section 233 of the Companies Act, 2013 allows mergers and demergers between specified classes of companies through a simplified fast-track process, which requires approval from the Central Government (delegated to Regional Directors). Initially, this provision applied to mergers between small companies and between holding companies and their wholly owned subsidiaries.
Over time, the scope has been expanded through amendments to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. In 2021, start-ups were ...