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Companies (Court) Rules, 1959

280. Payment of dividend or return of capital due to a deceased creditor or contributory

Where a claim made in respect of a dividend due to a deceased creditor or a return of capital due to a deceased contributory is Rs. 500 or less, the Official Liquidator may, upon satisfying himself as to the claimant's right and title to receive the dividend or the return as the case may be, apply to the Court for sanctioning the payment of such dividend or return to the claimant without the production of a succession certificate or like authority. Where the Court sanctions the payment. the Official Liquidator shall make the payment upon obtaining a personal indemnity from the payee.

Termination of Winding-up

Companies   (Court) Rules, 1959 Back

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