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[Cites 0, Cited by 0] [Section 58] [Entire Act]

State of Punjab - Subsection

Section 58(10) in The Punjab Insolvency Rules

(10)Receiver to obtain orders of Court when he does not agree with the suggestions of the committee. - When a Committee has been appointed, the Official Receiver shall, in the administration of the property of the insolvent and in the distribution thereof amongst his creditors, have regard to any suggestions that the Committee may give by resolution. If the Official Receiver thinks that any suggestion of the Committee is not in the interests of the general body of creditors, he may report the matter to the Court which will give such instructions as it may consider just and necessary.