Section 42: Appeal against the decision of liquidator

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The Insolvency and Bankruptcy Code, 2016

PART II
Insolvency Resolution and Liquidation for Corporate Persons

CHAPTER III
Liquidation Process

Section 42: Appeal against the decision of liquidator:

*42. 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.


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Notifications & Circulars

*This shall come into force w.e.f. from 15.12.2016.

Amendments:

1. The Words in section 42 inserted  by the Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 (w.e.f. 06.06.2018).

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