(1) The liquidator may, after verification of claims under section 39, either admit or reject the claim, in whole or in part, as the case may be:
Provided that where the liquidator rejects a claim, he shall record in writing the reasons for such rejection.
(2) The liquidator shall communicate his decision of admission or rejection of claims to the creditor and corporate debtor within seven days of such admission or rejection of claims.
Insolvency and Bankruptcy Code 2016
Section 31 Approval of resolution plan
Section 33 Initiation of liquidation
Section 34 Appointment of liquidator and fee to be paid
Section 35 Powers and duties of liquidator
Section 37 Powers of liquidator to access information
Section 38 Consolidation of claims