Section 230 Of Companies Act 2013 Summary

Requirement of section 234 of the companies act 2013.

Section 230 of companies act 2013 summary. Chapter xx winding up. Section 230 of companies act 2013 power to compromise or make arrangements with creditors and members. For the purpose of sub section 7 of section 232 of the act every company in relation to which an order is made under sub section 3 of section 232 of the act shall until the scheme is fully implemented file with the registrar of companies the statement in form no. The notice of the meeting under sub section 3 of section 230 of the act shall be advertised in in at least one english newspaper and in at least one vernacular newspaper having wide circulation in the state in which the registered office of the company is situated or such newspapers as may be directed by the tribunal and shall also be placed not less than thirty days before the date fixed for the meeting on the website of the company if any and in case of listed companies also on.

Companies act 2013 roc corporate law mca icsi nclt nclat articles introduction. Chapter xvii registered valuers. With creditors and members. Apart from forming a public or private limited company the 2013 act enables the formation of a new entity a one person company opc.

Chapter xv section 230 to 240 of companies act 2013 the act contains provisions on compromises arrangements and amalgamations that covers compromise or arrangements mergers and amalgamations corporate debt restructuring demergers fast track mergers for small companies holding subsidiary companies cross. The 2013 act introduces a new type of entity to the existing list i e. Section 231 of the act deals with the powers of the. Companies 1 1 one person company.

Chapter xviii removal of names of companies from the register of companies. Chapter xix revival and rehabilitation of sick companies. Article analyses section 230 of companies act 2013 which deals with power to compromise or make arrangements with creditors and members. Section 230 of the act deals with compromise or arrangements proposed between a company and its creditors or members.

Section 248 to 252. Power to compromise or make arrangements with creditors and members. Effective from 15th december 2016 except sub section 11 and 12. Companies act 2013 7 1.

Section 230 is a piece of internet legislation in the united states passed into law as part of the communications decency act cda of 1996 a common name for title v of the telecommunications act of 1996 formally codified as section 230 of the communications act of 1934 at 47 u s c. Power to compromise or make arrangements. Section 241 to 246. Chapter xvi prevention of oppression and mismanagement.

Section 230 to 240. Proviso to sub section 1 of section 234 provides that the central government may make rules in consultation with the reserve bank of india in connection with mergers and amalgamations provided under this section sub section 2 of section 234 requires a prior reserve bank approval in the cross border mergers.