Under Section 230 Companies Act 2013, a 'compromise or arrangement' between a company and its creditors or members is sanctioned by:

1. Sections 230-232 Companies Act 2013 govern compromises, arrangements, mergers, demergers and amalgamations. 2. Section 230(1): application may be made to the TRIBUNAL (NCLT) by the company, any creditor, any member, or the liquidator (in case of winding up). 3. NCLT was conferred jurisdiction over these matters w.e.f. 1 December 2016, taking over from the High Court under the 1956 Act. 4. NCLT may order separate meetings of creditors/members; if approved by majority in number representing 3/4 in value, NCLT may sanction the scheme. 5. Hence option A is correct. _Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Sections 230-232 (NCLT jurisdiction since 1 December 2016 notification)_