29 Power of Central Government to Provide for Amalgamation of Companies in Public Interest

Power of Central Government to Provide for Amalgamation of Companies in Public Interest

29 1. For the purposes of sub-section (3) of section 237, the Central Government may nominate an officer ………………………………… in the Ministry of Corporate Affairs. 
2. For the purposes of sub-section (3) of section 237, the compensation to be paid to the member or creditor, including a debenture holder, of each of the transferor companies shall be assessed by an officer not below the rank of Junior Administrative Grade of Indian Corporate Law Services in the Ministry of Corporate Affairs or such other authority as may be notified by the Central Government.