Section 40: Admission or rejection of claims.

The Insolvency and Bankruptcy Code, 2016.Central Act · Act 31 of 2016

(1) The liquidator may, after verification of claims under section 39, either admit or reject the claim, in whole or in part, as the case may be:

Provided that where the liquidator rejects a claim, he shall record in writing the reasons for such rejection.

(2) The liquidator shall communicate his decision of admission or rejection of claims to the creditor and corporate debtor within seven days of such admission or rejection of claims.

Where this provision sits

Act	The Insolvency and Bankruptcy Code, 2016.
Section	40
Marginal note	Admission or rejection of claims.
Jurisdiction	Central
Status	In force as published by the source
Judgments citing it	3

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