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Statutory Provisions

Home Acts & Rules Bill Bills COMPANIES BILL, 2011 Chapters List Chapter XX - Part IV Official liquidators This

Clause 364 - Appeal by creditor - COMPANIES BILL, 2011

COMPANIES BILL, 2011
Chapter XX - Part IV
Official liquidators
  • Contents

Appeal by creditor

     364. (1) Any creditor aggrieved by the decision of the Official Liquidator under section 363 may file an appeal before the Central Government within thirty days of such decision.

      (2) The Central Government may after calling the report from the Official Liquidator either dismiss the appeal or modify the decision of the Official Liquidator.

      (3) The Official Liquidator shall make payment to the creditors whose claims have been accepted.

      (4) The Central Government may, at any stage during settlement of claims, if considers necessary, refer the matter to the Tribunal for necessary orders.

 
 
 
 

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