law: Companies Act, 2013 
  264.
  
    Implementation
  
  of scheme.
  1.      The Tribunal shall,
  
  for the purpose of effective implementation of the scheme, have power to
  
  enforce, modify or terminate any contract or agreement or any obligation
  
  pursuant to such agreement or contract entered into by the company with any
  
  other person.
  2.      The Tribunal may, if
  
  it deems necessary or expedient so to do, by order in writing, authorise the
  
  company administrator appointed under section 259 to implement a sanctioned
  
  scheme till its successful implementation on such terms and conditions as may
  
  be specified in the order and may for that purpose require him to file periodic
  
  reports on the implementation of the sanctioned scheme.
  3.      Where the whole or
  
  substantial assets of the undertaking of the sick company are sold under a
  
  sanctioned scheme, the sale proceeds shall be applied towards implementation of
  
  the scheme in such manner as the Tribunal may direct:
  Provided
  
  that debtors and creditors shall have the power to scrutinise and make an
  
  appeal for review of the value before final order of fixing value.
  1.     
  2.     
  3.     
  4.      Where it is difficult
  
  to implement the scheme for any reason or the scheme fails due to
  
  non-implementation of obligations under the scheme by the parties concerned,
  
  the company administrator authorised to implement the scheme and where there is
  
  no such administrator, the company, the secured creditors, or the transferee
  
  company in a case of amalgamation, may make an application before the Tribunal
  
  for modification of the scheme or to declare the scheme as failed and that the
  
  company may be wound up.
  5.      The Tribunal shall,
  
  within thirty days of presentation of an application under sub-section (4 ),
  
  pass an order for modification of the scheme or, as the case may be, declaring
  
  the scheme as failed and pass an order for the winding up of the company if
  
  three-fourths in value of the secured creditors consent to the modification of
  
  the scheme or winding up of the company.
  6.      Where an application
  
  under sub-section (4 ) has been made before the Tribunal and such
  
  application is pending before it, such application shall abate, if the secured
  
  creditors representing not less than three-fourths in value of the amount
  
  outstanding against financial assistance disbursed to the sick company have
  
  taken any measures to recover their secured debt under sub-section (4 )
  
  of section 13 of the Securitisation and Reconstruction of Financial Assets and
  
  Enforcement of Security Interest Act, 2002.