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.