Allowed
M/s.Lancer Life Sciences Pvt. Ltd.(In Liqn.) v. The Chief Manager
Telangana HCCOMPA/1042/2016
Case brief
AI extract
What is this about?
The court granted leave to the official liquidator to advertise a notice in designated newspapers for inviting claims from creditors. The liquidator is authorized to use Rs.1,50,000 from realized assets for advertisement and exempted from issuing a specific notice under Rule 148(2).
What did the court decide?
Directed the respondent to advertise a notice in Andhra Jyothi and Indian Express for inviting creditors' claims; Rule 148(2) notice dispensed with.