Section 230 Of Companies Act 2013

3 1 application for compromise arrangement and amalgamation.

Section 230 of companies act 2013. Sub section 1 of section 230. Sub section 1 of section 230. Chapter vi registration of charges 77. Short title extent.

Section 253 to 269. Chapter xv sections 230 240 of the companies act 2013 ca 2013 deals with the provisions related to compromises arrangements and amalgamations section 230 of ca 2013 provides for power to compromise or make arrangements with creditors and members. Chapter xv of the companies act 2013 deals with compromises arrangements and amalgamations contains 10 section 230 240. The conundrum as to whether section 29a of the insolvency and bankruptcy code 2016 code will apply to schemes under section 230 of the companies act 2013 companies act has been put to rest at least for the time being by a recent ruling of the national company law appellate tribunal nclat.

Section 241 to 246. Recently we have discussed in detail section 229 penalty for furnishing false statement mutilation destruction of documents of ca 2013. Power to compromise or make arrangements with creditors and members. According to the counsel for the petitioner taking into consideration the provisions of companies act 1956 this tribunal has the power to sanction the scheme on the premise that section 68 of the 2013 act and section 77a of the 1956 act are pari materia and the hon ble high court of bombay while considering section 391 read with section 394 and section 77a and sections 100 to 104 all.

Chapter xx winding up. Application for compromise arrangement and amalgamation. Extract of section 230 of companies act 2013 is as follows chapter xv compromises arrangements and amalgamations notified date of section. Chapter xix revival and rehabilitation of sick companies.

Section 230 to 240. Punishment for contravention of section 73 or section 76. Power to compromise or make arrangements with creditors and members. Section 230 comprises of 12 subsections out of which subsection 1 10 is effective from 15 th december 2016 while the subsection 11 and 12 are notified on 03 rd of february 2020 are reiterated herein below.

The notice of the meeting under sub section 3 of section 230 of the act shall be advertised in form no. Duty to register charges etc. Chapter xviii removal of names of companies from the register of companies. Companies act 2013 section 230 bare act.

Nature of application or petition. Caa 2 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 maybe directed by the tribunal and shall also be placed not less than thirty days before. Section 248 to 252. Chapter xvi prevention of oppression and mismanagement.