https://www.taxtmi.com/article/detailed?id=7141 Section 230 provides a statutory procedure for court-sanctioned schemes between a company and its members or creditors, requiring prescribed filings, comprehensive disclosures (financials, auditor's report, valuation, restructuring details), and compliance with rules on notices, meetings, voting and proxies. The Tribunal determines classes for meetings, supervises notice and publication requirements, appoints chairpersons, receives chairperson reports, and on approval the company must petition for sanction. On sanction the Tribunal can direct implementation, require certifications of accounting conformity, and retain power to modify schemes or order winding up if implementation fails. en-us Wed, 21 Dec 2016 07:23:19 +0530 Wed, 21 Dec 2016 07:23:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7141 Section 230 provides a statutory procedure for court-sanctioned schemes between a company and its members or creditors, requiring prescribed filings, comprehensive disclosures (financials, auditor's report, valuation, restructuring details), and compliance with rules on notices, meetings, voting and proxies. The Tribunal determines classes for meetings, supervises notice and publication requirements, appoints chairpersons, receives chairperson reports, and on approval the company must petition for sanction. On sanction the Tribunal can direct implementation, require certifications of accounting conformity, and retain power to modify schemes or order winding up if implementation fails. Articles Corporate Laws / IBC / SEBI Wed, 21 Dec 2016 07:23:19 +0530 https://www.taxtmi.com/article/detailed?id=7141