Claim verification in voluntary liquidation requires timely decision-making, written reasons for rejection, and communication to stakeholders. Verification of claims in voluntary liquidation requires the liquidator to examine claims within thirty days from the last date for receipt of claims and decide whether to admit or reject them, in whole or in part. If a claim is rejected, the reasons must be recorded in writing. The liquidator must communicate the decision within seven days, and a creditor may approach the Adjudicating Authority against the liquidator's decision.
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.
Claim verification in voluntary liquidation requires timely decision-making, written reasons for rejection, and communication to stakeholders.
Verification of claims in voluntary liquidation requires the liquidator to examine claims within thirty days from the last date for receipt of claims and decide whether to admit or reject them, in whole or in part. If a claim is rejected, the reasons must be recorded in writing. The liquidator must communicate the decision within seven days, and a creditor may approach the Adjudicating Authority against the liquidator's decision.
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