Mercury Limited is incorporated in USA and having its registered office in Los Angeles. Board of directors of Mercury Limited taken a decision to merge Mercury Limited with Mars Limited, a company incorporated in India h

Yes, Mercury Limited a foreign company can merge with Mars Limited, an Indian Company as per Section 234 of Companies Act, 2013. Section 234(2) of Companies Act, 2013 states that subject to the provisions of any other law for the time being in force, a foreign company may with the prior approval of the Reserve Bank of India, merge into a company registered under this Act or vice versa and the terms and conditions of the scheme of merger may provide, among other things, for the payment of consideration to the shareholders of the merging company in cash, or in Depository Receipts, or partly in cash or partly in Depository Receipts, as the case may be, as per the scheme to be drawn up for the purpose. For the purpose of sub section (2), the expression "foreign company' means a company or body corporate incorporated outside India whether having a place of business in India or not. Section 234(1) states that the provisions of this Chapter unless otherwise provided under any other law or the time being in force, shall apply mutatis mutandis to schemes of merger and amalgamations between companies registered under this Act and companies incorporated in the jurisdictions of such countries as may be notified from time to time by the Central Government. The Central Government may make rules, in consultation with the Reserve Bank of India, in connection with mergers and amalgamations provided under this section.