Section 5: Notice to be given for payment of debt

Estimated reading: 1 minute 514 views

1) Prior to making an application to the Court pursuant to Section 4 for insolvency proceedings, a notice shall be sent to the registered office of the company in the prescribed form for the payment of debt.

2) The notice referred to in sub-section (1) shall be signed by the creditor himself or herself or by a person authorized by the creditor on his or her behalf.