Arrangement binding on company and creditors removed; provision omitted by insolvency legislation, altering winding-up framework. Section 321 of the Companies Act, 2013 - formerly prescribing that arrangements between a company in or approaching winding up and its creditors are binding if sanctioned by a special resolution and acceded to by creditors holding three fourths in value, and allowing creditors or contributories three weeks to apply to the Tribunal to amend, vary, confirm or set aside the arrangement - has been omitted by the Insolvency and Bankruptcy Code, 2016 via the repeal provisions.