Brakes Ltd., a small company manufacturing brakes proposes to merge with Lubricants Ltd., another small company. Registrar of Companies (ROC) objected the scheme on the ground that it is not in the interest of the credit

Section 233 of the Companies Act, 2013 provides the conditions which small companies have to follow for the merger (fast track merger). As per the said section further steps in the matter are as follows: The Registrar will communicate the objections or suggestions to the scheme to the Central government within a period of thirty days. In the absence of any such communication, it would be presumed that no objections were raised. If the Central Government after receiving the objections or suggestions or for any other reason forms the opinion that the said scheme is not in public interest or in the interest of the creditors, it can file an application before the Tribunal within a period of sixty days. After filing of such application, the Tribunal has to render its judgment. If it is of the opinion (with reasons recorded in writing) that the scheme should be considered as per the procedure laid down in section 232 of Companies Act, 2013, it may give directions accordingly. Provided that if the Central Government does not have any objection to the scheme or it does not file any application under this section before the Tribunal, it shall be deemed that it has no objection to the scheme.