9 creditors of the value of ₹ 70 crore voted in favour of the proposed compromise ?
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2019
9 creditors of the value of ₹ 70 crore voted in favour of the proposed compromise ?
Answer & Explanation:
The validity in case of - the proposed compromise cannot be implemented, though the voting majority is existing, the value of voters is not in compliance as it is less than 3/4th value of the debts of the company.
Topics: Companies Act, 2013
Related Questions in this Topic
- Write the short notes on the following: Inspection of Register of Charges.
- LMN Ltd. incorporated with paid-up capital of ₹40 Crore. During the financial year 2019-20, the paid-up capital was incr...
- List out the check points to be observed by Company Secretary in practice while conducting the Secretarial Audit with re...
- What are the powers vested with Board of Directors under section 179(3) of the Companies Act, 2013? Can any power be del...
- The date of approval of Financial Statements by the Board of Directors of PQR Ltd. is 17th July, 2020 and the date of no...