Revival and rehabilitation schemes enable restructuring, management change, asset disposal and debt rescheduling for sick companies. A scheme of revival and rehabilitation must be prepared by the company administrator after considering the draft filed under section 254; it may provide for financial reconstruction, change or takeover of management, amalgamation, takeover by a solvent company, sale or lease of assets or business, workforce rationalisation in law, debt repayment/rescheduling/restructuring to creditors or classes of creditors, and any incidental, consequential or supplemental measures necessary to effectuate these remedies.
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Provisions expressly mentioned in the judgment/order text.
Revival and rehabilitation schemes enable restructuring, management change, asset disposal and debt rescheduling for sick companies.
A scheme of revival and rehabilitation must be prepared by the company administrator after considering the draft filed under section 254; it may provide for financial reconstruction, change or takeover of management, amalgamation, takeover by a solvent company, sale or lease of assets or business, workforce rationalisation in law, debt repayment/rescheduling/restructuring to creditors or classes of creditors, and any incidental, consequential or supplemental measures necessary to effectuate these remedies.
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