Section 474 - Power to exclude creditors not proving in time. - Companies Act, 1956

Power to exclude creditors not proving in time. 474. The [1] [Tribunal] may fix a time or times within which creditors are to prove their debts or claims, or to be excluded from the benefit of any distribution made before those debts or claims are proved. ------------------------------------------ Notes:- [1] Substituted for "Court" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified.