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The Ministry of Corporate Affairs’ notification dated 4 September 2025 marks a significant reform in India’s corporate restructuring regime by expanding the scope of fast-track mergers under Section 233 of the Companies Act, 2013. Earlier confined to small companies and wholly owned subsidiaries, the provision now includes mergers between unlisted companies, holding–subsidiary entities, fellow subsidiaries, and certain inbound foreign mergers. It also extends to divisions and demergers, introducing procedural relaxations such as longer filing timelines and mandatory auditor certification (Form CAA-10A). Judicial precedents emphasise balancing efficiency with fairness and stakeholder protection, limiting the Regional Director’s discretion and ensuring public interest oversight. While the amendments simplify processes and decongest tribunals, practical challenges remain – especially in obtaining high shareholder and creditor approvals, managing cross-border compliance, and ensuring valuation transparency. The success of this framework will hinge on harmonized regulation, digital integration, and preservation of stakeholder trust.
INTRODUCTION
Mergers and acquisitions represent some of the most significant transformations in the corporate world, fundamentally altering ownership structures, redefining strategic direction, and often determining the l
