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State of Rajasthan - Section

Section 452 in Rajasthan Insolvency Rules

452. Compositions or Schemes of arrangement by joint creditors.

- The joint creditors and each set of separate creditors may severally accept compositions or schemes of arrangement. So far as circumstances will allow, a proposal accepted by joint creditors may be approved in the prescribed manner notwithstanding that the proposals of one or some of the debtors made to his or their separate creditors may not be accepted.