Section 91 — Power to dispense with consent of creditor on security being given for his debt

Where a creditor entered on the list of creditors whose debt
or claim is not discharged or determined does not consent to the reduction, the Court
may, if it thinks fit, dispense with the consent of that creditor, on the company
securing payment of his debt or claim by appropriating as the Court may direct, the
following amount, that is to say-

(a) if the company admits the full amount of his debt or claim, or,
though not admitting it, is willing to provide for it , then the full
amount of the debt or claim; and

(b) if the company does not admit or is not willing to provide for the
full amount of the debt or claim, or if the amount is contingent or
not ascertained, then an amount fixed by the Court after the like
inquiry, and adjudication as if the company were being wound up
by the Court.