Question

What is the time period within which the liquidator should communicate his decision of admission or rejection of claims to the creditor and corporate debtor as per IBC?

A 7 days Correct Answer Incorrect Answer
B 15 days Correct Answer Incorrect Answer
C 60 days Correct Answer Incorrect Answer
D 90 days Correct Answer Incorrect Answer

Solution

Section 40(2) - The liquidator shall communicate his decision of admission or rejection of claims to the creditor and corporate debtor within seven days of such admission or rejection of claims.

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