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.
