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[Cites 0, Cited by 0] [Section 39] [Entire Act]

State of Kerala - Subsection

Section 39(2) in Kerala Insolvency Act, 1955

(2)If, on the consideration of the proposal, a majority in number and three-fourths in value of all the creditors whose debts are proved and who are present in person or by pleader, resolve to accept the proposal, the same shall be deemed to be duly accepted by the creditors.