sec.10CCourt’s powers

sec.10C Court’s powers

After publication of the reconstruction provisions and the date of approval thereof pursuant to the provisions of section 10A , the Court may, upon application made to it for that purpose, make orders for— the convening of a meeting or meetings to consider a proposed arrangement; the approval by it of a proposed arrangement; as provided for by, and in accordance with, the reconstruction provisions and such further or other orders ancillary thereto as it thinks fit. Upon the approval of a proposed arrangement in accordance with the terms of the reconstruction provisions, the Court may, upon application made to it for that purpose, make such orders as are necessary to ensure that the arrangement is fully and effectively carried out which may include orders for— the issue and allotment of shares in a company in substitution for units issued pursuant to the trust deed; the cancellation of units in substitution for which shares are so issued and allotted; the issue and allotment of units pursuant to the trust deed to a company in which shares are or are to be so issued and allotted in substitution for units; the provision to be made for persons who within such time and in such manner as the Court directs, dissent from the arrangement. s 10C ins 1988 No. 38 s 8 (sec.10C-ssec.1) After publication of the reconstruction provisions and the date of approval thereof pursuant to the provisions of section 10A , the Court may, upon application made to it for that purpose, make orders for— the convening of a meeting or meetings to consider a proposed arrangement; the approval by it of a proposed arrangement; as provided for by, and in accordance with, the reconstruction provisions and such further or other orders ancillary thereto as it thinks fit. (sec.10C-ssec.2) Upon the approval of a proposed arrangement in accordance with the terms of the reconstruction provisions, the Court may, upon application made to it for that purpose, make such orders as are necessary to ensure that the arrangement is fully and effectively carried out which may include orders for— the issue and allotment of shares in a company in substitution for units issued pursuant to the trust deed; the cancellation of units in substitution for which shares are so issued and allotted; the issue and allotment of units pursuant to the trust deed to a company in which shares are or are to be so issued and allotted in substitution for units; the provision to be made for persons who within such time and in such manner as the Court directs, dissent from the arrangement.

• (a) the convening of a meeting or meetings to consider a proposed arrangement;
• (b) the approval by it of a proposed arrangement;
• (a) the issue and allotment of shares in a company in substitution for units issued pursuant to the trust deed;
• (b) the cancellation of units in substitution for which shares are so issued and allotted;