Consolidation of claims in liquidation governed creditor submissions, claim formats, and withdrawal timelines before omission. Section 38 formerly dealt with consolidation of claims in liquidation. It required the liquidator to receive or collect creditor claims within thirty days from commencement of liquidation, permitted financial creditors to submit claims through information utility records or, if unrecorded, in the manner applicable to operational creditors, and required operational creditors to submit claims in the form and manner specified by the Board. Mixed creditors had to submit financial and operational components separately under the relevant procedure, and claims could be withdrawn or varied within fourteen days of submission.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Consolidation of claims in liquidation governed creditor submissions, claim formats, and withdrawal timelines before omission.
Section 38 formerly dealt with consolidation of claims in liquidation. It required the liquidator to receive or collect creditor claims within thirty days from commencement of liquidation, permitted financial creditors to submit claims through information utility records or, if unrecorded, in the manner applicable to operational creditors, and required operational creditors to submit claims in the form and manner specified by the Board. Mixed creditors had to submit financial and operational components separately under the relevant procedure, and claims could be withdrawn or varied within fourteen days of submission.
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