What majority approves an arrangement at the court-ordered meeting?
AThree-fourths in value
BUnanimity of members
CSimple majority in number
DTwo-thirds in value
Answer & Solution
Correct answer: A. Three-fourths in value
Section 230(6) needs a majority of persons representing three-fourths in value of the class voting.
Keep practising Internal Reconstruction Sections
Browse all Internal Reconstruction Sections questions for CA Inter, or explore more Accounting topics.
Related questions
In accounting, share capital equals the nominal value ofIn debt restructuring, obligations are typically spread overMalaysia's scheme of arrangement provision is in which section of its 2016 Act?UK schemes of arrangement are found in which Part of the Companies Act 2006?Canada's plan of arrangement: section 192 of which Act?Australian schemes of arrangement are located in which Act?A court-approved agreement between a company and its shareholders or creditors is aProvision for dissenting members under a merger order is made by the