If the Court approves the proposal, the terms shall be embodied in an order of the Court, and the order of adjudication shall be annulled, and the provisions of Section 38 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.
Section 40: Order on approval
The Insolvency Act, 1955State Act of Kerala · Act 2 of 1956
Where this provision sits
| Act | The Insolvency Act, 1955 |
|---|---|
| Section | 40 |
| Marginal note | Order on approval |
| Jurisdiction | State of Kerala |
| Status | In force as published by the source |
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