Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 50] [Entire Act]

Union of India - Section

Section 39 in The Provincial Insolvency Act, 1920

39. Order on approval

.If the Court approves the proposal, the terms shall be embodied in an order of the Court, and [* * *] [The words "the Court shall frame a schedule in accordance with the provisions of section 33" omitted by Act 10 of 1935, Section 2.] the order of adjudication shall be annulled, and the provisions of section 37 shall apply, and the composition or scheme shall be binding on all the creditors [so far as relates to any debt due to them from the debtor and provable under this Act] [Substituted by Act 10 of 1935, Section 2, for "entered in the said schedule so far as release to any debts entered therein" .].