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    <title>Admission or Rejection of claim [ Section 40 , 41 &amp; 42 ]</title>
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    <description>The liquidator, after verification, may admit or reject claims in whole or part and must record reasons for rejection; decisions must be communicated to the creditor and corporate debtor within a short prescribed period. The liquidator determines the valuation of admitted claims as specified by the Board, and creditors may appeal the liquidator&#039;s acceptance or rejection to the Adjudicating Authority within the limited timeframe provided.</description>
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