Section 23
Restructuring Program To Be Prepared
(1) Where the Court makes an order to restructure any company pursuant to Sub-section (2) of Section 22, the restructuring manager shall prepare a restructuring scheme of the company in writing.
(2) The scheme prepared pursuant to Sub-section (1) shall contain the following programs:
(a) To capitalize the debt of the company and alter the capital structure ;
(b) To pay the claims of creditors by selling any portion of the assets of the company;
(c) To change the nature of claims of creditors of the company and issue securities for the same;
(d) To get the creditors of the company to participate in capital investment by issuing shares in consideration for their claims;
(e) To amalgamate the company with any other company;
(f) To change the management of the company; or
(g) To do any such other act which the Court considers appropriate to restructure the company.
(2) The scheme prepared pursuant to Sub-section (1) shall contain the following programs:
(a) To capitalize the debt of the company and alter the capital structure ;
(b) To pay the claims of creditors by selling any portion of the assets of the company;
(c) To change the nature of claims of creditors of the company and issue securities for the same;
(d) To get the creditors of the company to participate in capital investment by issuing shares in consideration for their claims;
(e) To amalgamate the company with any other company;
(f) To change the management of the company; or
(g) To do any such other act which the Court considers appropriate to restructure the company.