law: Companies Act, 2013 
  321.
  
    Arrangement
  
  when binding on company and creditors.
  1.      Any arrangement other
  
  than the arrangement referred to in section 319 entered into between the
  
  company which is about to be, or is in the course of being wound up and its
  
  creditors shall be binding on the company and on the creditors if it is
  
  sanctioned by a special resolution of the company and acceded to by the
  
  creditors who hold three-fourths in value of the total amount due to all the
  
  creditors of the company.
  2.      Any creditor or
  
  contributory may, within three weeks from the completion of the arrangement, apply
  
  to the Tribunal and the Tribunal may thereupon amend, vary, confirm or set
  
  aside the arrangement.