Any creditor who has not proved his debt before the declaration of any dividend or dividends shall be entitled to be paid, out of any money for the time being in the hands of the receiver, any dividend or dividends which he may have failed to receive before that money is applied to the payment of any future dividend or dividends; but he shall not be entitled to disturb the distribution of any dividend declared before his debt was proved by reason that he has not participated therein.
Section 66: Right of creditor who has not proved debt before declaration of a dividend
The Insolvency Act, 1955State Act of Kerala · Act 2 of 1956
Where this provision sits
| Act | The Insolvency Act, 1955 |
|---|---|
| Section | 66 |
| Marginal note | Right of creditor who has not proved debt before declaration of a dividend |
| Jurisdiction | State of Kerala |
| Status | In force as published by the source |
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