Section 49: Claim for interest

Where any company which has become insolvent has borrowed a loan on the condition of paying interest on it according to the agreement entered into at the time of borrowing, such interest may also be included in the claim made pursuant to sub-section (1) of Section 48.

Provided that no interest may be claimed for the period after the date of issue by the Court of an order to liquidate the company or implement the restructuring program of the company.