Section 364 of Companies Act, 2013

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Section 364 of Companies Act, 2013 deals with Appeal by creditor.

From the Act

(1) Any creditor aggrieved by the decision of the Official Liquidator under section 363 may file an appeal before the Central Government within thirty days of such decision.

(2) The Central Government may after calling the report from the Official Liquidator either dismiss the appeal or modify the decision of the Official Liquidator.

(3) The Official Liquidator shall make payment to the creditors whose claims have been accepted.

(4) The Central Government may, at any stage during settlement of claims, if considers necessary, refer the matter to the Tribunal for necessary orders.

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Related Sections from the Act

  • Section 359: Appointment of Official Liquidator.
  • Section 360: Powers and functions of Official Liquidator
  • Section 361: Summary procedure for liquidation.
  • Section 362: Sale of assets and recovery of debts due to company.
  • Section 363: Settlement of claims of creditors by Official Liquidator.
  • Section 365: Order of dissolution of company

Chapters and Sections from the Indian Companies Act, 2013

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