https://www.taxtmi.com/caselaws?id=97654 The court directed the liquidator to admit Lloyds Bank Ltd.'s claim as an ordinary creditor, despite the delay in presenting the claim, emphasizing the liquidator's duties and trusts under the Companies Act. The court clarified that the claim was not time-barred and could be entertained, subject to certain conditions to ensure fairness in the liquidation process. The court also ruled that the bank's right to seek relief arose when the liquidator rejected the claim, falling within the limitation period, and ordered the applicant to cover the application costs. en-us Mon, 11 May 1959 00:00:00 +0530 Tue, 17 Jan 2012 15:56:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97654 The court directed the liquidator to admit Lloyds Bank Ltd.'s claim as an ordinary creditor, despite the delay in presenting the claim, emphasizing the liquidator's duties and trusts under the Companies Act. The court clarified that the claim was not time-barred and could be entertained, subject to certain conditions to ensure fairness in the liquidation process. The court also ruled that the bank's right to seek relief arose when the liquidator rejected the claim, falling within the limitation period, and ordered the applicant to cover the application costs. Case-Laws Companies Law Mon, 11 May 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97654