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[Cites 0, Cited by 4] [Section 230(2)] [Section 230] [Entire Act]

Union of India - Subsection

Section 230(2)(c) in The Companies Act, 2013

(c)any scheme of corporate debt restructuring consented to by not less than seventy-five per cent. of the secured creditors in value, including—
(i)a creditor’s responsibility statement in the prescribed form;
(ii)safeguards for the protection of other secured and unsecured creditors;
(iii)report by the auditor that the fund requirements of the company after the corporate debt restructuring as approved shall conform to the liquidity test based upon the estimates provided to them by the Board;
(iv)where the company proposes to adopt the corporate debt restructuring guidelines specified by the Reserve Bank of India, a statement to that effect; and
(v)a valuation report in respect of the shares and the property and all assets, tangible and intangible, movable and immovable, of the company by a registered valuer.