Regulation 33 - Distribution of dividend to claimant of deceased creditor
Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 Chapter VI PROCEEDS OF BANKRUPTCY PROCESS AND DISTRIBUTION OF PROCEEDS
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Dividend distribution to heir requires trustee verification of claimant's title and application to adjudicating authority for sanction. Distribution of dividend to a claimant who is an heir of a deceased creditor requires the bankruptcy trustee to confirm the claimant's right and title and to call for evidence as necessary; on being satisfied, the trustee may apply to the Adjudicating Authority to sanction payment or return of the dividend to the claimant.
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.
Dividend distribution to heir requires trustee verification of claimant's title and application to adjudicating authority for sanction.
Distribution of dividend to a claimant who is an heir of a deceased creditor requires the bankruptcy trustee to confirm the claimant's right and title and to call for evidence as necessary; on being satisfied, the trustee may apply to the Adjudicating Authority to sanction payment or return of the dividend to the claimant.
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