114. (1) The Adjudicating Authority shall by an order approve or reject
the repayment plan on the basis of the report of the meeting of the
creditors submitted by the resolution professional under section 112:
Provided that where a meeting of creditors is not summoned, the Adjudicating
Authority shall pass an order on the basis of the report prepared by the
resolution professional under section 106.
(2) The order of the Adjudicating Authority approving the repayment plan may
also provide for directions for implementing the repayment plan.
(3) Where the Adjudicating Authority is of the opinion that the repayment
plan requires modification, it may direct the resolution professional to
re-convene a meeting of the creditors for reconsidering the repayment plan.