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of <h1>Section 230: Companies Act 2013 Guides Compromises and Arrangements with Creditors or Members, Requires Tribunal Order and Stakeholder Vote.</h1> Section 230 of the Companies Act, 2013, outlines the process for companies to propose compromises or arrangements with creditors or members. The Tribunal can order meetings to discuss such proposals, requiring disclosure of material facts and financial details. Notices must be sent to stakeholders, allowing them to vote or object. A majority agreement can bind the company and its creditors or members. The Tribunal's order may address share conversions, creditor protections, and shareholder rights variations. The order must be filed with the Registrar, and meetings can be waived if 90% of creditors agree. Buy-backs and takeover offers must comply with specific regulations.
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