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Section 363 of Companies Act, 2013

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Section 363 of Companies Act, 2013 deals with Settlement of claims of creditors by Official Liquidator.

From the Act

(1) The Official Liquidator within thirty days of his appointment shall call upon the creditors of the company to prove their claims in such manner as may be prescribed, within thirty days of the receipt of such call.

(2) The Official Liquidator shall prepare a list of claims of creditors in such manner as may be prescribed and each creditor shall be communicated of the claims accepted or rejected along with reasons to be recorded in writing.

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