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NOTICE OF EXTRAORDINARY GENERAL MEETING November 19, 2020 SCHEME FOR COMPROMISES, ARRANGEMENTS AND RECONSTRUCTION UNDER SECTIONS 279 TO 283 READ WITH SECTION 285 OF THE COMPANIES ACT, 2017 FOR AMALGAMATION/MERGER

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How to fill out scheme of compromises arrangement

01

Identify the parties involved in the dispute and their respective interests.

02

Analyze the potential outcomes and benefits of reaching a compromise.

03

Collaborate with all parties to brainstorm possible solutions and concessions.

04

Draft a formal agreement outlining the compromises and terms agreed upon by all parties.

05

Review and finalize the scheme of compromises arrangement with legal counsel to ensure compliance with relevant laws and regulations.

Who needs scheme of compromises arrangement?

01

Individuals or organizations involved in a dispute seeking a mutually beneficial resolution.

02

Legal entities looking to avoid costly and prolonged litigation.

03

Any party interested in maintaining positive relationships with others involved in the dispute.

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What is scheme of compromises arrangement?

A scheme of compromises arrangement is a legal process that allows a debtor to reach an agreement with creditors concerning the repayment of debts, typically restructuring the terms and conditions of repayment.

Who is required to file scheme of compromises arrangement?

Typically, a debtor facing financial difficulties may file a scheme of compromises arrangement in order to negotiate with creditors. This can include individuals, corporations, or partnerships.

How to fill out scheme of compromises arrangement?

To fill out a scheme of compromises arrangement, the debtor must provide detailed information about their financial situation, including assets, liabilities, and proposed terms for compromise. This usually involves a prescribed format that requires specific disclosures.

What is the purpose of scheme of compromises arrangement?

The purpose of a scheme of compromises arrangement is to facilitate a negotiated settlement between the debtor and creditors to avoid bankruptcy, allowing the debtor to manage their debts in a more manageable way.

What information must be reported on scheme of compromises arrangement?

Information that must be reported includes details of the debtor's financial status, reasons for the proposed arrangement, terms of payment, and how the arrangement will affect different classes of creditors.

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