258. Order of Tribunal
On the date of hearing fixed by the Tribunal and on consideration of the report of
the interim administrator filed under sub-section (1) of section 256, if the Tribunal is satisfied
that the creditors representing three-fourths in value of the amount outstanding against the
sick company present and voting have resolved that—
(a) it is not possible to revive and rehabilitate such company, the Tribunal shall
record such opinion and order that the proceedings for the winding up of the company
be initiated; or
(b) by adopting certain measures the sick company may be revived and
rehabilitated, the Tribunal shall appoint a company administrator for the company and
cause such administrator to prepare a scheme of revival and rehabilitation of the sick
company:
Provided that the Tribunal may, if it thinks fit, appoint an interim administrator as the
company administrator.