Disclosures in application made to the Tribunal for compromise or arrangement. Creditors Responsibility Statement
Disclosures in application made to the Tribunal for compromise or arrangement. —Creditors Responsibility Statement. – For the purposes of sub-clause (i) of clause (c) of sub section (2) of section 230 of the Act, the creditor’s responsibility statement in Form No. CAA. 1 shall be included in the scheme of corporate debt restructuring. Explanation:- For the purpose of this rule, it is clarified that a scheme of corporate debt restructuring as referred to in clause (c) of sub-section (2) of section 230 of the Act shall mean a scheme that restructures or varies the debt obligations of a company towards its creditors. Form No. CAA. 1 To view the return, Click Here
Notes, amendments & references (3)
Disclosures in application made to the Tribunal for compromise or arrangement. —Creditors Responsibility Statement. – For the purposes of sub-clause (i) of clause (c) of sub section (2) of section 230 of the Act, the creditor’s responsibility statement in Form No. CAA. 1 shall be included in the scheme of corporate debt restructuring.
Explanation:- For the purpose of this rule, it is clarified that a scheme of corporate debt restructuring as referred to in clause (c) of sub-section (2) of section 230 of the Act shall mean a scheme that restructures or varies the debt obligations of a company towards its creditors.
Form No. CAA. 1 To view the return, Click Here