Section 42
Appeal against the decision of liquidator.
The Insolvency and Bankruptcy Code, 2016.
About this Act
An Act to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Board of India, and for matters connected therewith or incidental thereto.
A creditor may appeal to the Adjudicating
Authority against the decision of the liquidator 1
[accepting or] rejecting the claims within fourteen days of
the receipt of such decision.
Notes
1. Ins. by Act 26 of 2018, s. 27 (w.e.f. 6-6-2018).