https://www.taxtmi.com/acts?id=31156 When the trustee has realised the estate, he must notify intention to declare a final dividend or that none will be declared, specifying a final date for proving claims; the Adjudicating Authority may postpone that date. After the final date the trustee must defray outstanding bankruptcy expenses from the estate and, if declaring a final dividend, distribute it among creditors who proved their debts. Any surplus after payment in full with interest and expenses belongs to the bankrupt. In partner bankruptcy, joint creditors do not receive dividends from separate property until separate creditors are paid in full. en-us Tue, 02 Jan 2018 17:00:25 +0530 Fri, 06 Dec 2019 12:42:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31156 When the trustee has realised the estate, he must notify intention to declare a final dividend or that none will be declared, specifying a final date for proving claims; the Adjudicating Authority may postpone that date. After the final date the trustee must defray outstanding bankruptcy expenses from the estate and, if declaring a final dividend, distribute it among creditors who proved their debts. Any surplus after payment in full with interest and expenses belongs to the bankrupt. In partner bankruptcy, joint creditors do not receive dividends from separate property until separate creditors are paid in full. Act-Rules IBC Tue, 02 Jan 2018 17:00:25 +0530 https://www.taxtmi.com/acts?id=31156