alleryStart learning →A creditor can object only if outstanding debt is at least
ATen per cent of total debt
BFive per cent of total debt
CThree per cent of total debt
DOne per cent of total debt
Answer & Solution
Correct answer: B. Five per cent of total debt
Section 230(4) allows objection by creditors holding debt of not less than five per cent of total outstanding debt.
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