The Provincial Insolvency Act,1920
Section 39. Order of approval
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 37 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.
