63 MOONS TECHNOLOGIES LTD (FORMERLY KNOWN AS FINANCIAL TECHNOLOGIES INDIA LTD) vs UNION OF INDIA

The Supreme Court addressed the applicability of Section 396 of the Companies Act, 1956, concerning the compulsory amalgamation of companies in the public interest. The Court held that the Central Government has the authority to amalgamate companies when it is essential for public interest, emphasizing the need for a thorough examination of the circumstances leading to such a decision. The judgment clarified the procedural requirements and the necessity for transparency in the amalgamation process, ultimately upholding the government's order for amalgamation in this case.