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of <h1>Debts and claims, including future and contingent, are admissible for proof in company winding up under Companies Act, 1956.</h1> In the context of winding up under the Companies Act, 1956, all types of debts and claims against a company, whether current or future, certain or contingent, and including those payable on a contingency or sounding only in damages, are admissible for proof. This is applicable to both solvent and insolvent companies, with the latter subject to insolvency law provisions. A fair estimate of the value of such debts or claims should be made, even if they are contingent or indeterminate in value.
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