In the recent Notification No. 28/2015-2020 dated 12th February 2021, DGFT make it mandatory for all IEC holders to ensure that the details in its IEC is updated electronically every year, during April – June Period. In case where there are no changes in IEC details same are also needs to be confirmed online.
When multiple entities combine or unite together to form one separate entity, it is called amalgamation. Amalgamation is a measure for two competing companies to avoid completion among themselves and offer more to the market. This is done for the mutual benefit of the companies in question.
Amalgamation is said to be an arrangement between two companies for their benefit and to curb completion between them. Two or more companies come together to form a new company or a subsidiary of any one company.