TMI BlogInformation as to compromises or arrangements with creditors and members.X X X X Extracts X X X X X X X X Extracts X X X X ..... (a) with every notice calling the meeting which is sent to a creditor or member, there shall be sent also a statement setting forth the terms of the compromise or arrangement and explaining its effect, and in particular, stating any material interests of the directors, managing director, [1] [* * *] or manager of the company, whether in their capacity as such or as members or creditors of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y's directors. (3) Where a notice given by advertisement includes a notification that copies of a statement setting forth the terms of the compromise or arrangement proposed and explaining its effect can be obtained by creditors or members entitled to attend the meeting, every creditor or member so entitled shall, on making an application in the manner indicated by the notice, be furnished by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... very director, managing director, [4] [* * *] or manager of the company, and every trustee for debenture holders of the company, shall give notice to the company of such matter relating to himself as may be necessary for the purposes of this section; and if he fails to do so, he shall be punishable with fine which may extend to [5] [five thousand rupees]. --------------------- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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