Friday, October 11, 2019

Scheme of arrangement with FD holders is regulated by S. 58A and is outside purview of S. 391/394 of Cos Act, 1956

COMPANY LAW: Fixed deposit holders are a separate category of creditors and section 58A of Companies Act, 1956, makes a provision to protect interest of FD holders in case of default, thus, scheme of arrangement and compromise with FD holders is regulated by section 58A and is outside purview of section 391/394 of Companies Act, 1956

from www.taxmann.com Latest Case Laws https://ift.tt/2pdUoZa
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