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Section 50
Claims of liabilities that have not been determined or are yet to be determined
: (1) Determination of the amount of liability arising from actions such as the creation of damages or any other civil liability due to the damage caused or the compensation to be paid due to the non-observance or breach of any contract by the company under contract, except as provided in section 48. A claim for unfulfilled obligations or a guarantee given by the company under a surety agreement can be presented in accordance with sub-section (1) of section 48.
(2) Upon receipt of a claim as per sub-section (1), the restructuring manager or liquidator shall accept or reject such claim in accordance with sub-section (3) of section 48 and give notice in accordance with sub-section (4) of the same section.
(3) If such claim is accepted according to sub-section (2), the restructuring manager or liquidator shall also determine the estimated amount of such claim.
(4) Notwithstanding anything written in sub-section (3), the restructuring manager or liquidator may apply to the court to determine the amount of such claim and if such an application is made, the court shall determine the estimated amount of such claim.
(5) A person who refuses a claim in accordance with sub-section (2) or who is not satisfied with the estimated amount of such claim determined in accordance with sub-section (3) may appeal to the court within fifteen days of receiving the notice thereof.