Claims submission and updation in voluntary liquidation require timely filing and continuous disclosure whenever the claim is partially or fully satisfied. A stakeholder in a voluntary liquidation process must submit its claim by the deadline stated in the public announcement and update the claim whenever it is satisfied, partly or fully, from any source after the liquidation commencement date. The regulation creates a continuing obligation to keep claims information current during liquidation by requiring both initial submission and later updation of the claim position.
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.
Claims submission and updation in voluntary liquidation require timely filing and continuous disclosure whenever the claim is partially or fully satisfied.
A stakeholder in a voluntary liquidation process must submit its claim by the deadline stated in the public announcement and update the claim whenever it is satisfied, partly or fully, from any source after the liquidation commencement date. The regulation creates a continuing obligation to keep claims information current during liquidation by requiring both initial submission and later updation of the claim position.
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