Companies Act, 2013

CHAPTER XV

COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS

Power to compromise or make arrangements with creditors and members.

230.(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, [appointed under this Act or under the Insolvency and Bankruptcy Code, 2016, as the case may be,] 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 .... To read the full section download the app from Google Play store