PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP (From Rule 179 to Rule 182)
Secured creditor voting treated as surrendering security unless Tribunal excuses inadvertent omission to value the security. A secured creditor voting in respect of the whole debt is deemed to have surrendered his security unless the Tribunal, on application, is satisfied the omission to value the security was due to inadvertence; relief depends on Tribunal's positive finding.
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.
Secured creditor voting treated as surrendering security unless Tribunal excuses inadvertent omission to value the security.
A secured creditor voting in respect of the whole debt is deemed to have surrendered his security unless the Tribunal, on application, is satisfied the omission to value the security was due to inadvertence; relief depends on Tribunal's positive finding.
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