QR Private Limited, a Start-up company proposes for merger with MN Private Limited a small Company. Explaining the meaning of 'Start-up', brief whether the merger proposal can be carried out without the approval of the N

Section 233 of the Companies Act, 2013 prescribes simplified procedure for merger or amalgamation of two or more small companies, or between a holding company and its wholly-owned subsidiary company, or such other class or classes of companies as maybe prescribed As per Explanation to Rule 25(1) (1A) of Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2021, "start-up company" means a private company incorporated under the Companies Act, 2013 or Companies Act, 1956 and recognized as start-up in accordance with the notification issued by the DPIIT, Ministry of Commerce and Industry." Further, a scheme of merger or amalgamation under section 233 of the Act may be entered into between any of the following class of companies, namely: - two or more start-up companies, or one or more start-up company with one or more small company. Yes, merger proposal can be carried out without the approval of the National Company Law Tribunal. Pursuant to the provisions of section 233 of the Act along with Rule 25 of the Companies (Compromises, Arrangements and Amalgamation) Rules, these Companies can make application to the Regional Director of Ministry of Corporate Affairs, Government of India for fast-track merger.