Compromises, Arrangements, Amalgamation

Corporate & Other Laws

In compramise and arrangement The scheme Related to Creditors is objection by the creditors having 6% of the total outstanding debt But in the creditors meeting the creditors majority persons representing the 76% of value who are present and voted in favour of scheme Now what is the validity of scheme? And explain The Reason..

Chan Dra

CA Final

★ 0

13-Feb-25 16:54

271

Answers (1)

The objection as well as proposed scheme shall be moved to NCLT. NCLT will suggest suitable modifications to address the objections and accordingly pass the scheme.

CA YOGITA HARJANI

Faculty

16-Feb-25 15:11