Revival and rehabilitation of sick companies: Section 265 omitted; previously mandated winding up after creditors rejected a scheme. Section 265 has been omitted; formerly it mandated that if creditors did not approve a restructuring scheme, the company administrator must report within ... Summary
Revival and rehabilitation of sick companies: Section 265 omitted; previously mandated winding up after creditors rejected a scheme.
Section 265 has been omitted; formerly it mandated that if creditors did not approve a restructuring scheme, the company administrator must report within fifteen days and the Tribunal would order winding up and conduct winding up proceedings under the then applicable provisions.
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