246. Payment of distributable sum or return of Assets due to a deceased creditor or partner.
Where a claim made in respect of a distributable sum due to a deceased creditor or a return of contribution due to a deceased partner is Rs.500 or less, the Liquidator may, upon satisfying himself as to the claimant’s right and title to receive the distributable sum or the return, as the case may be, apply to the Tribunal for sanctioning the payment of such distributable sum or return to the claimant without the production of a succession certificate or like authority and where the Tribunal sanctions the payment, the Liquidator shall make the payment upon obtaining a personal indemnity from the payee. |