Companies Act, 1973 (Act No. 61 of 1973)Regulations Winding-Up and Judicial management of Companies7. Claims Disputed by Liquidator |
A liquidator, who under section 45(3) of the Insolvency Act, 1936 (Act 24 of 1936), read with section 339 of the Act, disputes claim, shall furnish to the Master in duplicate the reasons for disputing the claim and shall at the same time-
| a) | forward a copy of the said reasons to the creditor and request him to furnish his reasons to the Master within 14 days or such longer period as the Master may on application allow. why his claim should not be expunged or reduced; and |
| b) | report to the Master in writing the steps taken by him in this regard. |