79.
The answer is: C
Explanation
The correct option is C: Section 396 of the Companies Act.
This is because Section 396 of the Companies Act, 1956 (corresponding to Section 237 of the Companies Act, 2013) empowers the Central Government to order the compulsory amalgamation of two or more companies if it is satisfied that such amalgamation is essential in the public interest.
The Central Government can issue such an order by a notification in the Official Gazette, specifying the names of the companies, the terms and conditions of amalgamation, and the date on which the amalgamation will take effec.
The order will also provide for the continuation of legal proceedings by or against the companies, the transfer of employees, and other incidental matters. The order will be binding on the companies and their shareholders, creditors, and employees.
Option A is incorrect because Section 388 of the Companies Act deals with the removal of managerial personnel by the Central Government on certain grounds, such as fraud, misfeasance, breach of trust, etc. It has nothing to do with amalgamation of companies.
Option B is incorrect because Section 378 of the Companies Act deals with the application of provisions relating to winding up subject to supervision by court to voluntary winding up. It has nothing to do with amalgamation of companies.
Option D is incorrect because Section 390 of the Companies Act deals with the interpretation of certain terms used in Part VI of the Act, which relates to arrangements and reconstructions. It has nothing to do with amalgamation of companies.