What is the procedure for amalgamation of two companies operating in Kurnool?

Detailed Legal Analysis

Amalgamation is governed by Sections 230–232 of the Companies Act, 2013, requiring a scheme approved by shareholders and creditors in meetings in Kurnool. The scheme is then sanctioned by the NCLT, with appeals to the Andhra Pradesh High Court under Section 61.

The tribunal considers the public interest and the report of the Registrar and Official Liquidator. The amalgamated entity's offices in Andhra Pradesh must maintain Shops and Establishments registration under Andhra Pradesh Rent Control Act 1960.

Tax neutrality may be claimed under Section 2(1B) of the Income Tax Act on fulfilment of conditions. All assets and liabilities are transferred by court order.