29. Verification of claims
(1) The liquidator shall verify the claims submitted within thirty days from the last date for receipt of claims and may either admit or reject the claim, in whole or in part, as the case may be: , as per section 40 of the Code.
The liquidator shall communicate his decision of admission or rejection of claims to the stakeholder within seven days of such admission or rejection of claims.
(3) A creditor may appeal to the Adjudicating Authority against the decision of the liquidator as per section 42 of the Code.
Inserted vide Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process)(Second Amendment) Regulations, 2026 dated 01.06.2026.To view the notification Click Here.
Inserted vide Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process)(Second Amendment) Regulations, 2026 dated 01.06.2026.To view the notification Click Here.
substituted vide Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process)(Second Amendment) Regulations, 2026 dated 01.06.2026.To view the notification Click Here.