(1) Where a receiving order is made against a debtor, then if the creditors at the first meeting or any adjournment thereof by ordinary resolution resolve that the debtor be adjudged bankrupt, or pass no resolution, or if the creditors do not meet, or if a composition or scheme is not accepted or approved within 14 days after the conclusion of the examination of the debtor or such further time as the Court may allow, the Court shall, unless good reason be shown, adjudge the debtor bankrupt.