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[Cites 0, Cited by 4] [Section 555(7)] [Section 555] [Entire Act]

Union of India - Subsection

Section 555(7)(b) in The Companies Act, 1956

(b)Any person claiming as aforesaid may, instead of applying to the [Tribunal] [ Substituted by Act 11 of 2003, Section 109, for " Court" .], apply to the Central Government for an order for payment of the money claimed; and the Central Government may, if satisfied whether on a certificate by the Liquidator or the Official Liquidator or otherwise, that such person is entitled to the whole or any part of the money claimed and that no application made in pursuance of clause (a) is pending in the [Tribunal] [ Substituted by Act 11 of 2003, Section 109, for " Court" .], make an order for the payment to that person of the sum due to him, after taking such security from him as it may think fit.