Compromise and arrangement: Tribunal-directed meetings with strict disclosure, voting and sanctioning rules to bind affected parties. Power to effect compromises or arrangements between a company and its creditors or members allows the Tribunal to order meetings and supervise the process. Applicants must disclose material facts, any share capital reduction, and, for corporate debt restructuring, creditor consent documentation, creditor safeguards, auditor reports on liquidity, any adoption of Reserve Bank guidelines, and a registered valuer's valuation. Notice and disclosure obligations require circulation to affected parties and regulators, creation of opportunities for representations, prescribed voting and objection thresholds, and provision for Tribunal sanction to render approved schemes binding, subject to auditor certification and statutory buy-back and takeover conditions.