In force · As amended up to 2026-08
39. Order on approval. —If the Court approves the proposal, the terms shall be embodied in an order of the Court, and[1] [*] 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[2] [so far as relates to any debt due to them from the debtor and provable under this Act].
Source: India Code