Lawgist231Power to Tribunal to enforce compromise or arrangement
(1) Where the Tribunal makes an order under section 230 sanctioning a compromise or an arrangement in respect of a company, it
(a) shall have power to supervise the implementation of the compromise or arrangement; and--
(b) may, at the time of making such order or at any time thereafter, give such directions in regard to any matter or make such modifications in the compromise or arrangement as it may consider necessary for the proper implementation of the compromise or arrangement.
(2) If the Tribunal is satisfied that the compromise or arrangement sanctioned under section 230 cannot be implemented satisfactorily with or without modifications, and the company is unable to pay its debts as per the scheme, it may make an order for winding up the company and such an order shall be deemed to be an order made under section 273.
(3) The provisions of this section shall, so far as may be, also apply to a company in respect of which an order has been made before the commencement of this Act sanctioning a compromise or an arrangement.
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- 230 Power to compromise or make arrangements with creditors and member
- 231 Power to Tribunal to enforce compromise or arrangement
- 232 Merger and amalgamation of companies
- 233 Merger or amalgamation of certain companies
- 234 Merger or amalgamation of company with foreign compan
- 235 Power to acquire shares of shareholders dissenting from scheme or contract approved by majorit
- 236 Purchase of minority shareholding
- 237 Power of Central Government to provide for amalgamation of companies in public interest
- 238 Registration of offer of schemes involving transfer of shares
- 239 Preservation of books and papers of amalgamated companie
- 240 Liability of officers in respect of offences committed prior to merger, amalgamation, etc
