PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY <BR> LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP - Companies (Winding Up) Rules, 2020
PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY <BR> LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP - Companies (Winding Up) Rules, 2020
Creditors must bear the costs of proving their debts in winding up unless the tribunal orders otherwise. Rule 114 provides that, in winding up proceedings, a creditor shall bear the costs of proving his debt unless the tribunal orders otherwise, placing the ... Summary
Creditors must bear the costs of proving their debts in winding up unless the tribunal orders otherwise.
Rule 114 provides that, in winding up proceedings, a creditor shall bear the costs of proving his debt unless the tribunal orders otherwise, placing the default expense of substantiating a claim on the creditor while preserving the tribunal's discretion to direct a different allocation of those costs.
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