(1) Every shareholder, having a claim in relation to any share acquired by this Act, shall prefer such claim before the Commissioner within thirty days from the specified date:
148 The Infusions (India) Limited (Acquisition of Shares) Act, 1985.
I of 1985.]
(Chapter II.—Acquisition of the shares of the Company.— Sections 10, 11.)
Provided that if the Commissioner is satisfied that the claimant was prevented by sufficient cause from preferring the claim within the period of thirty days, he may entertain the claim within a further period of thirty days and not thereafter.
(2) Every shareholder of a preference share shall have a preferential claim with regard to the amount paid by the State Government to the Commissioner.
10. On receipt of the claims made under section 9, the Commissioner shall separately arrange the claims in relation to preference shares and in relation to equity shares and examine the claims in relation to each such share.