You are viewing the translated version of स्वीकृत पुनर्संरचना कार्यक्रम उपर दाबी विरोध गर्न सकिने.

Section 27
Claims against the approved restructuring program
- (1) According to sub-section (7) of section 24, the creditor who disagrees with the restructuring program proposal may file a claim opposition petition in the court within seven days after disclosing the following grounds and reasons:-
(a) Restructuring program approved by the majority in the meeting of creditors is not in accordance with the interests of creditors other than secured creditors,
(b) There are serious irregularities in convening or conducting the meeting of creditors and the program approved by that meeting is not favorable to the interests of creditors other than secured creditors,
(c) giving false or misleading information or concealing material information about the company or the restructuring program of the company.
(2) If there is an application under sub-section (1), the court will order the company and the restructuring manager to submit a written statement in this regard within seven days.
(3) After receiving the written statement as per sub-section (2) or after the deadline for submitting the written statement has expired, the court will hear the petition as per sub-section (1) and if it finds that the petition is justified, it will invalidate the resolution of the restructuring program passed in the meeting of creditors.
(4) If the proposal passed and approved in the meeting of creditors is revoked and deactivated according to sub-section (3), the court will order the immediate liquidation of the company.
(5) The information of the order issued according to sub-section (3) or (4) shall be given to the concerned company and the restructuring manager.