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Rule 164: Application for sanction of compromise · Complied AI

Chapter 37
Rule 164

Rule 164Chapter 37

Application for sanction of compromise

Application for sanction of compromise.- Every application for sanction of a compromise or arrangement referred to in clauses (ii) and (iii) of sub- section (1) of section 343 shall be accompanied by a copy of the proposed compromise or arrangement and shall be supported by an affidavit of the Company Liquidator, along with final report of the Advisory committee; stating that for the reasons set out in the affidavit he is satisfied that the proposed compromise or arrangement is beneficial to the company.

Rule 163 Rule 164 Rule 165