Consolidation of claims [ Section 38 ]

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....ion, verification, admission or rejection, and valuation of claims by the liquidator. These provisions should be read along with regulation 12 and Chapter V of the Liquidation Process Regulations. Public announcement by liquidator Regulation 12 of the Liquidation Process Regulations deals with the public announcement to be made by the liquidator to call for claims against the CD. * (1) The li....

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....esolution Process for Corporate Persons) Regulations, 2016, shall be deemed to be submitted under section 38. * (3) The announcement shall be published- * (a) in one English and one regional language newspaper with wide circulation at the location of the registered office and principal office, if any, of the corporate debtor and any other location where in the opinion of the liquidator, the co....

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....tor by providing a record of such claim with an information utility. * Provided that where the information relating to the claim is not recorded in the information utility, the financial creditor may submit the claim in the same manner as provided for the submission of claims for the operational creditor under section 38(3). * The form and manner of claim submission by creditors is provided in....

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....ng Form F of Schedule II. * Importantly, even where a workman or employee does not make a claim, the liquidator may admit their claims on the basis of the CD's books of accounts. Supportive Document [ Section 38(3) ] * An operational creditor may submit a claim to the liquidator in such form and in such manner and along with such supporting documents required to prove the claim as may be spec....