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[Cites 0, Cited by 0] [Section 60] [Entire Act]

State of Punjab - Subsection

Section 60(iii) in The Punjab Insolvency Rules

(iii)On the expiry of the period allowed by the notice, the Official Receiver shall remit by money order, at their own risk and expense, the dividend due to all creditors who have not taken payment in cash. If the amount is too large to be remitted by a single money order, it should be spread over the requisite number of money orders. The Insolvency Judge shall cancel any cheques in favour of persons who have not taken payment in cash.