Corporate Reconstruction

[Audio] It is a corporate reconstruction presentation prepared by Nishant Tripathi and Rishabh Agrawal and it is submitted to Dr. Vipan Kumar..

[Audio] The topic of presentation is fast track merger .The presensation will cover the definition, procedures and prerequisites document involved in it..

[Audio] Before understanding fast track merger we need to reimagine the concept of merger agreement. ast Track Merger (" FTM") is a new concept that has been introduced in India to facilitate the ease of doing business. Through this, the time and cost required for the merger process have been significantly reduced by the elimination of any court intervention..

[Audio] The companies which are eligible to proceed the fast track merger are small companies and holding and it wholly owned subisidiary companies. Most startups in India are classified as small companies as they will not have a paid-up capital of more than Rs. 10 crores and an annual sales turnover of more than Rs. 20 crores..

The Path Of The Track. Notice of proposed scheme to be sent to ROC and OL Filing of declaration with ROC Convene meeting of members and creditors(if any) Filing of document with central government, ROC and OL Approval of scheme by CG Filing of confirmation order with ROC.

Form No To be filled by Particular Time limit Section and Rule CAA9 Transferor and Transferee Company To invite Objections or Suggestions from competent authority 233(1)(a) Rule 25(1) CAA10 Transferor and Transferee Company Declaration of Solvency 233(1)(C) Rule 25(1) CAA11 Transferee Company Filing of scheme of merger approved by the members and creditors with RD Within 7 days of approval of members and creditors 233(2) Rule 25(4)(a) CAA12 Regional Director Confirmation order for the scheme of Merger by the RD 233 Rule 25(2).