https://www.taxtmi.com/acts?id=37294 A compromise or arrangement under section 230 in liquidation must be completed within ninety days of the liquidation order, and the liquidator may file it only on committee recommendation and within thirty days of the liquidation commencement date. Ineligible persons cannot be party to the arrangement. Filing also requires creditor approval by requisite majority and a realisable amount higher than liquidation value. Time spent on the process, up to ninety days, is excluded from liquidation period, and costs are borne by the corporate debtor if sanctioned or by proposing parties if not sanctioned. en-us Sat, 27 Jul 2019 11:21:34 +0530 Mon, 08 Jun 2026 16:21:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=37294 A compromise or arrangement under section 230 in liquidation must be completed within ninety days of the liquidation order, and the liquidator may file it only on committee recommendation and within thirty days of the liquidation commencement date. Ineligible persons cannot be party to the arrangement. Filing also requires creditor approval by requisite majority and a realisable amount higher than liquidation value. Time spent on the process, up to ninety days, is excluded from liquidation period, and costs are borne by the corporate debtor if sanctioned or by proposing parties if not sanctioned. Act-Rules IBC Sat, 27 Jul 2019 11:21:34 +0530 https://www.taxtmi.com/acts?id=37294