law: Companies Act, 2013 
  237.
  
    Power
  
  of Central Government to provide for amalgamation of companies in public
  
  interest.
  1.      Where the Central
  
  Government is satisfied that it is essential in the public interest that two or
  
  more companies should amalgamate, the Central Government may, by order notified
  
  in the Official Gazette, provide for the amalgamation of those companies into a
  
  single company with such constitution, with such property, powers, rights,
  
  interests, authorities and privileges, and with such liabilities, duties and
  
  obligations, as may be specified in the order.
  2.      The order under
  
  sub-section (1 ) may also provide for the continuation by or against the
  
  transferee company of any legal proceedings pending by or against any
  
  transferor company and such consequential, incidental and supplemental
  
  provisions as may, in the opinion of the Central Government, be necessary to
  
  give effect to the amalgamation.
  3.      Every member or
  
  creditor, including a debenture holder, of each of the transferor companies
  
  before the amalgamation shall have, as nearly as may be, the same interest in
  
  or rights against the transferee company as he had in the company of which he
  
  was originally a member or creditor, and in case the interest or rights of such
  
  member or creditor in or against the transferee company are less than his
  
  interest in or rights against the original company, he shall be entitled to
  
  compensation to that extent, which shall be assessed by such authority as may
  
  be prescribed and every such assessment shall be published in the Official
  
  Gazette, and the compensation so assessed shall be paid to the member or
  
  creditor concerned by the transferee company.
  4.      Any person aggrieved
  
  by any assessment of compensation made by the prescribed authority under
  
  sub-section (3 ) may, within a period of thirty days from the date of
  
  publication of such assessment in the Official Gazette, prefer an appeal to the
  
  Tribunal and thereupon the assessment of the compensation shall be made by the
  
  Tribunal.
  5.      No order shall be
  
  made under this section unless—
  a.     
  
    a
  
  copy of the proposed order has been sent in draft to each of the companies
  
  concerned;
  b.    
  
    the
  
  time for preferring an appeal under sub-section (4 ) has expired, or
  
  where any such appeal has been preferred, the appeal has been finally disposed
  
  off; and
  c.     
  
    the
  
  Central Government has considered, and made such modifications, if any, in the
  
  draft order as it may deem fit in the light of suggestions and objections which
  
  may be received by it from any such company within such period as the Central
  
  Government may fix in that behalf, not being less than two months from the date
  
  on which the copy aforesaid is received by that company, or from any class of
  
  shareholders therein, or from any creditors or any class of creditors thereof.
  1.     
  2.     
  3.     
  4.     
  5.     
  6.      The copies of every
  
  order made under this section shall, as soon as may be after it has been made,
  
  be laid before each House of Parliament.