Section - 130, Public notice inviting claims from creditors.

Section - 130, Public notice inviting claims from creditors.

Insolvency & Bankruptcy

Public notice inviting claims from creditors.

(1) The Adjudicating Authority shall–


(a)send notices within ten days of the bankruptcy commencement date, to the creditors mentioned in -


(i) the statement of affairs submitted by the bankrupt under section 129; or


(ii) the application for bankruptcy submitted by the bankrupt under section 122.



(b)issue a public notice inviting claims from creditors.


( 2 ) The public notice under clause (b) of sub-section (1) shall include the last date up to which the claims shall be submitted and such others matters and details as may be prescribed and shall be -


(a)published in leading newspapers, one in English and another in vernacular having sufficient circulation where the bankrupt resides;


(b)affixed on the premises of the Adjudicating Authority; and


(c)placed on the website of the Adjudicating Authority.


(3) The notice to the creditors referred to under clause (a) of sub-section (1) shall include such matters and details as may be prescribed.