https://www.taxtmi.com/caselaws?id=96937 Late proof-of-debt claims in winding-up are generally barred by laches once the liquidator's accounts have been written up, because liquidation must proceed with reasonable expedition and cannot remain open-ended until dissolution. Rule 859 required a creditor to support a debt claim by affidavit; failure to do so ordinarily justified rejection. However, a delayed claim may be admitted in exceptional circumstances where the official liquidator has investigated it, found it substantially valid, and can make payment without practical difficulty. The claim was therefore allowed despite its delay, while confirming the general bar against late claims after accounts are written up. en-us Fri, 31 Aug 1945 00:00:00 +0630 Fri, 13 Jan 2012 12:37:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96937 Late proof-of-debt claims in winding-up are generally barred by laches once the liquidator's accounts have been written up, because liquidation must proceed with reasonable expedition and cannot remain open-ended until dissolution. Rule 859 required a creditor to support a debt claim by affidavit; failure to do so ordinarily justified rejection. However, a delayed claim may be admitted in exceptional circumstances where the official liquidator has investigated it, found it substantially valid, and can make payment without practical difficulty. The claim was therefore allowed despite its delay, while confirming the general bar against late claims after accounts are written up. Case-Laws Companies Law Fri, 31 Aug 1945 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=96937