02 April 2012
Pls see sections 391 to 394 of the Companies Act, 1956. Firstly respective Boards have to approve the amalgamation scheme. Then both companies shareholders have to approve the scheme. Then file an application with respective High courts. Then HC will ask to obtain consents of creditors. To conduct a meeting of all secured and unsecured creditors for obtaining their consent for the amalgamation of both the companies. If no objections are raised by any of the parties, then all such documents are to be filed with respective High Courts (if jurisdictions are different). Then the scheme will be approved.
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