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2021 (6) TMI 700 - Tri - Companies LawApproval of Composite Scheme of Arrangement - section 230-232 provisions of the Company Act, 2013 read with Insolvency Bankruptcy Code, 2016 and Regulation 32 of IBBI (Liquidation Process) Regulations, 2016 and under Rule 3(1) of the Companies (Compromise, Arrangement & Amalgamation) Rules, 2016 - HELD THAT:- On perusal of the documents submitted by the Liquidator of the Corporate Debtor and also the Scheme placed by a Liquidator in relation to a Company under Liquidation under Section 230 of the Companies Act, 2013, the scheme is required to be approved - necessary directions issued for convening the meetings of the stakeholders comprising of Secured Creditors, Unsecured Creditors and other creditors and Members of the Company; however, suitably modified to suit the present instance taking into consideration the facts and circumstances of the case. Application disposed off.
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