Section 147 – THE COMPANIES (COURT) RULES, 1959

147. Fixing a date for proving debts

Subject to the provisions of the Act, and in a winding-up by the Court, subject to the directions of the Court, the Official Liquidator in a winding-up by the Court shall, and the liquidator in any other winding-up, may, fix a certain day, which shall be not less than 14 days from the date of the notice to be given under the next succeeding rule, on or before which the creditors of the company are to prove their debts or claims and to establish any title they may have to priority under section 530, or to be excluded from the benefit of any distribution made before such debts or claims are proved, or, as the case may be, from objecting to such distribution.

Main Index

Rules and Regulations of India

MyNation

Leave a Comment

Your email address will not be published. Required fields are marked *