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[Cites 0, Cited by 0] [Section 53(3)] [Section 53] [Entire Act]

Union of India - Subsection

Section 53(3)(i) in Insolvency And Bankruptcy Code, 2016

(i)it is hereby clarified that at each stage of the distribution of proceeds in respect of a class of recipients that rank equally, each of the debts will either be paid in full, or will be paid in equal proportion within the same class of recipients, if the proceeds are insufficient to meet the debts in full; and