Rules and Regulations of India

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Section 97 – THE COMPANIES (COURT) RULES, 1959

97. Petition by a contingent or prospective creditor

A petition for the winding-up of a company presented by a contingent or prospective creditor shall be accompanied by an application under section 439(8) for the leave of the Court for the admission of the petition. No advertisement of the petition shall be made unless the leave has been granted, or, where the leave has been granted subject to any conditions precedent to the admission of the petition, unless such conditions have been satisfied.

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