(7) (a) Any person claiming to be entitled to any money paid into the Companies Liquidation Account (whether paid in pursuance of this section or under the provisions of any previous companies law) may apply to the 1 [Tribunal] for an order for payment thereof, and the 1 [Tribunal], if satisfied that the person claiming is entitled, may make an order for the payment to that person of the sum due : Provided that before making such an order, the 1 [Tribunal] shall cause a notice to be served on such officer as the Central Government may appoint in this behalf, calling on the officer to show cause within one month from the date of the service of the notice why the order should not be made. (b) Any person claiming as aforesaid may, instead of applying to the 1 [Tribunal], apply to the Central Government for an order for payment of the money claimed ; and the Central Government may, if satisfied whether on a certificate by the liquidator or the Official Liquidator or otherwise, that such person is entitled to the whole or any part of the money claimed and that no application made in pursuance of clause (a) is pending in the 1 [Tribunal], make an order for the payment to that person of the sum due to him, after taking such security from him as it may think fit.
