Adv. Sagar R. Jadhav (Proprietor) 26 September 2015

Can secured creditor settle dues with liquidation company

1. Whether Secured Creditor can settle his / its dues with company which is under liquidation?

2. If yes, then under which section / provision / act?

3. Is any difference between compromises /arrangments AND liquidation / winding up?

I look forward positive response from legal expert at their earliest.

Kumar Doab (FIN) 26 September 2015

The official liquidator in such case may not allow it.

The opinion of counsels specializing in Company Act and such matters is sought.