Lawgist114Order of Adjudicating Authority on repayment plan
(1) The Adjudicating Authority shall by an order approve or reject the repayment plan on the basis of the report of the meeting of the creditors submitted by the resolution professional under section 112:
Provided that where a meeting of creditors is not summoned, the Adjudicating Authority shall pass an order on the basis of the report prepared by the resolution professional under section 106.
(2) The order of the Adjudicating Authority approving the repayment plan may also provide for directions for implementing the repayment plan.
(3) Where the Adjudicating Authority is of the opinion that the repayment plan requires modification, it may direct the resolution professional to re-convene a meeting of the creditors for reconsidering the repayment plan.
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- 94 Application by debtor to initiate insolvency resolution process
- 95 Application by creditor to initiate insolvency resolution process
- 96 Interim moratorium
- 97 Appointment of resolution professional
- 98 Replacement of resolution professional
- 99 Submission of report by resolution professional
- 100 Admission or rejection of application
- 101 Moratorium
- 102 Public notice and claims from creditors
- 103 Registering of claims by creditors
- 104 Preparation of list of creditors
- 105 Repayment plan
- 106 Report of resolution professional on repayment plan
- 107 Summoning of meeting of creditors
- 108 Conduct of meeting of creditors
- 109 Voting rights in meeting of creditors
- 110 Rights of secured creditors in relation to repayment plan
- 111 Approval of repayment plan by creditors
- 112 Report of meeting of creditors on repayment plan
- 113 Notice of decisions taken at meeting of creditors
- 114 Order of Adjudicating Authority on repayment plan
- 115 Effect of order of Adjudicating Authority on repayment plan
- 116 Implementation and supervision of repayment plan
- 117 Completion of repayment plan
- 118 Repayment plan coming to end prematurely
- 119 Discharge order
- 120 Standard of conduct
