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

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 Shillong. The scheme is then sanctioned by the NCLT, with appeals to the Meghalaya 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 Meghalaya must maintain Shops and Establishments registration under Meghalaya Rent Control Act 2014.

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.