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of <h1>Section 230 schemes for mergers, debt restructuring, and capital reduction, binding creditors and shareholders with disclosure safeguards</h1> Section 230 of the Companies Act, 2013 empowers the Tribunal to order meetings of creditors or members to consider proposed compromises, arrangements, or corporate debt restructuring schemes, including share capital reorganisations and takeover offers. The applicant must fully disclose material facts, financials, investigations, and valuation reports. Notices with detailed scheme information must be sent to stakeholders and specified regulators, who may respond within thirty days. Approval requires a majority representing three-fourths in value and Tribunal sanction, after which the scheme binds all concerned, including liquidators. The Tribunal may protect classes of creditors, provide for exit to dissenting shareholders, dispense with meetings if 90% in value consent, and ensure accounting conformity. Reductions of capital under sanctioned schemes are exempt from section 66.
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