Section 230: Power to compromise or make arrangements with creditors and members

Section 230: Power to compromise or make arrangements with creditors and members · Complied AI

Notes, amendments & references (17)

For Government Companies, Tribunal is substituted with Central Government vide notification dated 13th June, 2017.

(The exceptions, modifications and adaptations provided above shall be applicable only to those Government Companies which has not committed a default in filing its financial statements under section 137 of the said act or annual return under section 92 of the said act with the registrar)

To view the notification, Click Here

Refer rule 3 of Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. To view the rule, Click Here

Inserted vide The Insolvency and Bankruptcy Code, 2016. To view the amendment, Click Here

Refer rule 5 of Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. To view the rule, Click Here

Refer rule 4 of Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. To view the rule, Click Here

Refer rule 6 of Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. To view the rule, Click Here

Refer rule 7 of Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. To view the rule, Click Here

Refer rule 11 of Companies (Compromises, Arrangements and Amalgamations) Rules , 2016. To view the rule, Click Here

Refer rule 9 and 10 of Companies (Compromises, Arrangements and Amalgamations) Rules , 2016. To view the rule, Click Here

Explanation. – For the purposes of this Act, the term ‘start-up’ or “start-up company” means a private company incorporated under the Companies Act, 2013 (18 of 2013) or the Companies Act, 1956 (1 of 1956) and recognised as start-up in accordance with the notification issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.

Refer rule 8 of Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. To view the rule, Click Here

Delegation of power to Regional Directors at Mumbai, Kolkata, Chennai, New Delhi, Ahmedabad, Hyderabad and Shillong vide notification S.O. 4090(E). To view the notification, Click Here

Refer rule 15, 16 and 17 of Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. To view the rule, Click Here

Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133.

Notified vide commencement notification dated 03.02.2020. To view the notification Click Here