25. (1) An award shall be in the prescribed form and shall include the following particulars:-
(a) a list of the movable properties of the debtor with particulars of any mortgage, lien or charge subsisting thereon;
(b) a list of the movable properties of the debtor on which there is any mortgage, lien or charge with particulars of such mortgage, lien or charge;
(c) details of all debts which have been determined under section 18 or regarding the amount of which there is no doubt or dispute;
(d) the amount to be paid to each creditor for each debt owing to him under the terms of an amicable settlement or of an order of the Board under section 19 or section 22;
(e) the manner and the order in which and the times at which the amounts referred to in clause (d) shall be paid:
Provided that the order in which such amounts shall be paid shall be in accordance with any rules made under this Act;
(f) the rate of interest, if any, payable on each amount referred to in clause (d);
(g) an order that all the properties mentioned in the list referred to in clause (a) or clause (b) except such properties as are exempt from sale shall, subject to any mortgage, lien or charge subsisting there on, be security for the amounts payable under the award;
(h) the date, if any, by which possession of immovable property is to be restored to the debtor under the terms of an award under sub-section (2) of section 19.
(2) At a place and time of which notice shall be given to the parties in the prescribed manner the award shall be explained to the parties present and shall be signed by the Board; but the validity of an award shall not be affected by the absence of any of the parties.
(3) From the date of the signing of the award under sub-section (2) it shall, in suppression of all previous decisions of a Civil Court in respect of the debts mentioned in it, be binding on the debtor and his creditors and the successors-in-interest of such debtor and creditors.