Compromise or arrangement

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....****] section 33. ^2[Provided that a person, who is not eligible under the Code to submit a resolution plan for insolvency resolution of the corporate debtor, shall not be a party in any manner to such compromise or arrangement.] ^5[Provided further that the liquidator shall file the proposal of compromise or arrangement only in cases where such recommendation has been made by the committee ....

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....e time taken on compromise or arrangement, not exceeding ninety days, shall not be included in the liquidation period.  (3)  Any cost incurred by the liquidator in relation to compromise or arrangement shall be borne by the corporate debtor, where such compromise or arrangement is sanctioned by the Tribunal under sub-section (6) of section 230: Provided that such cost shall be born....