Prodedure on receipt of application.

Finance197637 sections

Statutory text

(1) On receipt of an application under section 4, the Chairman of the Board shall pass an order fixing a date and place for hearing the application.
(2) Notice of the order under sub-section (1) shall be sent to creditors by registered post, acknowledgment due, and where the debtor is not the applicant, notice of the order under sub-section (1) shall be sent to such debtor in a similar manner.
(3) Where service of such notice in the manner provided in sub-section (2) is not practicable, the notice shall be served in any other manner prescribed by rules.

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