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1. What is Form CAA 7?

This form is filed pursuant to rule 20 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. As per the rule Where the compromise or arrangement has been proposed for the purposes of or in connection with a scheme for the reconstruction or amalgamation of any company and the matters involved cannot be dealt with on the petition for sanction of the compromise or arrangement, an application shall be made to the Tribunal under section 232 of the Act, by a notice of admission supported by an affidavit for directions of the Tribunal as to the proceedings to be taken. Upon the hearing of the notice the Tribunal may make such order in Form CAA 7 or give such directions as it may think fit, including, where necessary, an inquiry as to the creditors of the transferor company and the securing of the debts and claims of any of the dissenting creditors in such manner as the Tribunal may think just and appropriate. 

2. Why is it important? 

a. It is a statutory requirement

b. It contains the format in which an order can be passed by tribunal.

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