|Early Times Report|
Jammu, Aug 7: Jammu Chapter of the Institute of Company Secretaries of India (ICSI) organised a seminar on Fast Track Merger and in which numbers of people took part.
Addressing gathering, Practising Company Secretary from Delhi, Vikas Gera said FTM is applicable to the small companies and holding companies having wholly own subsidiary companies under Section 233 of The Companies Act, 2013. He explained the members about three departments viz ROC, Regional Director and Official Liquidator from which the NOC and approvals are required to be obtained without the intervention of NCLT. This process is speedy as compared to the merger of other class of companies. Final approval remains in the hands of Regional Director.
On this occasion, Chiairman Jammu Chapter CS Sudhir Anand, Vice-Chairman Jammu Chapter CS D.K.Pandoh, CS Shiv Pal Slathia and CS Rajiv Bajaj from Delhi were present and deliberated this topic in detailed.