Rules and Regulations of India

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Section 58 – THE COMPANIES (COURT) RULES, 1959

58. Certificate by the Judge as to creditors

The result of the settlement of the list of creditors shall be stated in a certificate which shall be prepared by the advocate of the company and signed by the Judge. Such certificate shall-

 

(1) specify the debts or claims (if any) which have been disallowed;

 

(2) distinguish (a) the debts of claims, the full amount of which the company is willing to set apart and appropriate; (b) the debts or claims (if any) the amount of which has been fixed by enquiry and adjudication in the manner provided by section 101(2) and these rules; and (c) the debts or claims (if any) the full amount of which the company does not admit or is not willing to set apart and appropriate or the amount of which has not been fixed by enquiry and adjudication as aforesaid; and

 

(3) show (a) which of the creditors have consented to the proposed reduction, and the total amount of the debts due to them; and (b) the total amount of the debts or claims the payment of which has been secured in the manner provided by section 101(2) and the persons to or by whom the same are due or claimed.

The said certificate shall also state what creditors have under rule 56 come in and sought to establish their title to be entered on the list and whether such claims have been allowed or not, but it shall not be necessary to make in such certificate any further or other reference to any creditors who are not entitled to be entered in the list or to any debts or claims to which the enquiry does not extend or to show therein the several amounts of the debts or claims of any persons who have consented to the proposed reduction or the payment of whose debts or claims has been secured as aforesaid.

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