law: Companies Act, 2013 
  254.
  
    Application
  
  for revival and rehabilitation.
  1.      On the determination
  
  of a company as a sick company by the Tribunal under section 253, any secured
  
  creditor of that company or the company may make an application to the Tribunal
  
  for the determination of the measures that may be adopted with respect to the
  
  revival and rehabilitation of such company:
  Provided
  
  that in case any reference had been made before the Tribunal and a scheme for
  
  revival and rehabilitation submitted, such reference shall abate if the secured
  
  creditors representing three-fourths in value of the amount outstanding against
  
  financial assistance disbursed to the borrower have taken 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:
  Provided
  
  further that no reference shall be made under this section if the secured
  
  creditors representing three-fourths in value of the amount outstanding against
  
  financial assistance disbursed to the borrower have taken 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:
  Provided
  
  also that where the financial assets of the sick company had been acquired by
  
  any securitisation company or reconstruction company under sub-section (1 )
  
  of section 5 of the Securitisation and Reconstruction of Financial Assets and
  
  Enforcement of Security Interest Act, 2002, no such application shall be made
  
  without the consent of securitization company or reconstruction company which
  
  has acquired such assets.
  1.     
  2.      An application under
  
  sub-section (1 ) shall be accompanied by—
  a.     
  
    audited
  
  financial statements of the company relating to the immediately preceding
  
  financial year;
  b.    
  
    such
  
  particulars and documents, duly authenticated in such manner, along with such
  
  fees as may be prescribed; and
  c.     
  
    a
  
  draft scheme of revival and rehabilitation of the company in such manner as may
  
  be prescribed:
  Provided
  
  that where the sick company has no draft scheme of revival and rehabilitation
  
  to offer, it shall file a declaration to that effect along with the
  
  application.
  3.      An application under
  
  sub-section (1 ) shall be made to the Tribunal within a period of sixty days
  
  from the date of determination of the company as a sick company by the Tribunal
  
  under section 253.