https://www.taxtmi.com/article/detailed?id=1955 A scheme sanctioned under Section 391 binds the company and creditors and restructures repayment of existing debts but does not create new debts or automatically compound offences under Section 147 of the Negotiable Instruments Act; compounding is a statutory process requiring the injured party's consent and cannot be effected indirectly by approval of a corporate scheme. en-us Thu, 22 Nov 2012 18:04:27 +0530 Thu, 22 Nov 2012 18:04:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1955 A scheme sanctioned under Section 391 binds the company and creditors and restructures repayment of existing debts but does not create new debts or automatically compound offences under Section 147 of the Negotiable Instruments Act; compounding is a statutory process requiring the injured party's consent and cannot be effected indirectly by approval of a corporate scheme. Articles Corporate Laws / IBC / SEBI Thu, 22 Nov 2012 18:04:27 +0530 https://www.taxtmi.com/article/detailed?id=1955