SECTION 364. APPEAL BY CREDITOR
[Effective from 15th December, 2016]
(1) Any creditor aggrieved by the decision of the Official Liquidator under section 363 may file an appeal before the [1] [Central Government] within thirty days of such decision.
(2) The [1] [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 [1] [Central Government] may, at any stage during settlement of claims, if considers necessary, refer the matter to the Tribunal for necessary orders.
[1] Powers of Central Government delegated to Regional Director vide Notification No. No. S.O. 4090(E) dated 19th December, 2016.
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