Extrat from Act

Document Number: Companies Act, 2013
Authority Name: GOI
Relevant Section: Companies Act, 2013
Document Date: Nil
84436-Companies Act 2013.pdf

Companies Act, 2013-Compromises, Arrangements and Amalgamations.

Companies Act, 2013-Compromises, Arrangements and Amalgamations.

CHAPTER XV COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS 230. Power to compromise or make arrangements with creditors and members. 231. Power to Tribunal to enforce compromise or arrangement. 232. Merger and amalgamation of companies. 230. Power to compromise or make arrangements with creditors and members.- (1) Where a compromise or arrangement is proposed (a) between a company and its creditors or any class of them; or (b) between a company and its members or any class of them, the Tribunal may, on the application of the company or of any creditor or member of the company, or in the case of a company which is being wound up, of the liquidator, order a meeting of the creditors or class of creditors, or of the members or class of members, as the case may be, to be called, held and conducted in such manner as the Tribunal directs. Explanation. For the purposes of this sub-section, arrangement includes a reorganisation of the company's share capital by the consolidation of shares of different classes or by the division of shares into shares of different classes or by both of those methods. (2) The company or any other person, by whom an application is made under subsection (1), shall disclose to the Tribunal by affidavit (a) all material facts relating to the company, such as the latest financial position of the company, the latest auditor's report on the accounts of the company and the pendency of any investigation or proceedings

Original document is available with
AutoDocG