https://www.taxtmi.com/acts?id=15699 The Tribunal may enforce, modify or terminate contracts and authorise a company administrator to implement a sanctioned revival scheme, requiring periodic reports. Sale proceeds from substantial asset disposals must be applied to scheme implementation under Tribunal direction, with debtors and creditors permitted to scrutinise valuations. If the scheme cannot be implemented or fails, the administrator, company, secured creditors or transferee may apply for modification or declaration of failure and winding up; the Tribunal must decide expeditiously and applications abate if secured creditors take prescribed recovery measures under securitisation law. en-us Thu, 22 Dec 2011 17:16:17 +0530 Thu, 22 Dec 2011 17:16:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15699 The Tribunal may enforce, modify or terminate contracts and authorise a company administrator to implement a sanctioned revival scheme, requiring periodic reports. Sale proceeds from substantial asset disposals must be applied to scheme implementation under Tribunal direction, with debtors and creditors permitted to scrutinise valuations. If the scheme cannot be implemented or fails, the administrator, company, secured creditors or transferee may apply for modification or declaration of failure and winding up; the Tribunal must decide expeditiously and applications abate if secured creditors take prescribed recovery measures under securitisation law. Act-Rules Bills Thu, 22 Dec 2011 17:16:17 +0530 https://www.taxtmi.com/acts?id=15699