38. Provision for expenses of winding up [Section 53].
- The Registrar or the receiver, before passing orders for the distribution of chit assets, shall specify the estimated amount of the cost of winding up including remuneration for the receiver and such other items of expenditure as are incidental to the winding up and such estimated amount shall first be provided for, and deducted from the value of the chit assets and the balance amount shall be proposed for distribution in accordance with the final statement prepared under rule 36.
