(1) Where in any proceedings, any of the parties to the proceedings dies or is adjudicated as an insolvent or in the case of a company under liquidation/winding up, the proceedings shall continue with the successor-in-interest of the party concerned.
(2) The Commission may, for reasons to be recorded, treat the proceedings as abated in case the Commission so directs and dispense with the need to bring the successors-ininterest to come on record.
(3) In case any person wishes to bring on record the successors-in-interest, the application for the purpose shall be filed within 90 days from the event requiring the successors-in-interest to come on record:
Provided that the Commission may, if it is satisfied that there is sufficient cause for not filing the application within the time allowed, condone the delay subject to such terms and conditions, as the Commission may consider appropriate.
(4) If the person fails to bring on record the successors-in-interest within the time allowed under sub-regulation (3) and in the event the application for condoning the delay in bringing on record the successor-in-interest is not condoned under the proviso to subregulation (3) the proceedings against the deceased person shall abate.