.If the Court approves the proposal, the terms shall be embodied in an order of the Court, and [* * *] [The words "the Court shall frame a schedule in accordance with the provisions of section 33" omitted by Act 10 of 1935, Section 2.] the order of adjudication shall be annulled, and the provisions of section 37 shall apply, and the composition or scheme shall be binding on all the creditors [so far as relates to any debt due to them from the debtor and provable under this Act] [Substituted by Act 10 of 1935, Section 2, for "entered in the said schedule so far as release to any debts entered therein " .].