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        Companies Law

        Rule 123 - Procedure on failure to prove debt within time fixed

        Companies (Winding Up) Rules, 2020
        DEBTS AND CLAIMS AGAINST COMPANY

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        Failure to prove debt allows application for relief and enables Tribunal to adjudicate or direct the liquidator. A creditor who fails to file proof of debt within the time specified in the advertisement may apply to the Tribunal within the limited period after that advertisement; the Tribunal may adjudicate the debt or direct the liquidator to do so.
                        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.

                              Failure to prove debt allows application for relief and enables Tribunal to adjudicate or direct the liquidator.

                              A creditor who fails to file proof of debt within the time specified in the advertisement may apply to the Tribunal within the limited period after that advertisement; the Tribunal may adjudicate the debt or direct the liquidator to do so.


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