A compromise is proposed between Jay Chemicals Ltd. and its creditors. The Tribunal on an application from the creditors has ordered a meeting of the creditors. Notice of such meeting to be called pursuant to an order of

Provisions of the Companies Act, 2013: Section 230(3) of the Companies Act, 2013 read with Rule 6 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 , provides that when a meeting of creditors for compromise or arrangement is proposed to be called in pursuance of an order of the Tribunal under Section 230(1), a notice of such meeting in Form CAA-2 shall be sent to all the creditors or class of creditors and to all the members or class of members and the debenture-holders of the company, individually at the address registered with the company. This notice shall be accompanied by the following documents/information: A statement disclosing the details of the compromise or arrangement; A copy of the valuation report, if any; The notice of the meeting to the creditors and members shall be accompanied by a copy of the scheme of compromise or arrangement, if such details are not already included in the said scheme; Details of the order of the Tribunal directing the calling, convening and conducting of the meeting; date of the order; Date, Time and Venue of the Meeting; Details of the company; The date of the Board meeting at which the scheme was approved by the Board of directors including the name of the directors who voted in favour of the resolution, who voted against the resolution and who did not vote/participate on such resolution; Explanatory statement disclosing details of the scheme of compromise or arrangement; Disclosure about the effect of the compromise or arrangement on key managerial personnel; directors; promoters; non-promoter members; depositors; creditors; debenture holders; deposit trustee and debenture trustee; employee of the company; Disclosure about effect of compromise or arrangement on material interests or directors, Key Managerial Personnel (KMP) and debenture trustee; Investigation or proceedings, if any, pending against the company under the Act; Details of approvals, sanctions or no-objection(s), if any, from regulatory or any other government authorities required, received or pending for the purpose scheme of compromise or arrangement; A statement to the effect that the persons to whom the notice is sent may vote in the meeting either in person or by proxies, or where applicable, by voting through electronics means. Conclusion: Jay Chemicals Ltd. must ensure that the notice for the creditors' meeting is accompanied by all the above-listed documents and information as per the Companies Act, 2013 and relevant rules.