company winding up Impleadement

Jeetender Gupta (Querist) 17 May 2015 This query is : Resolved
Court already appoint provisional liquidator in a winding up petition by another unsecured creditor. What is the remedy left with all other unsecured creditors - Filing fresh petition (otherwise infructuous) or Impleadement Application. What if existing petitioner eventually settles & withdraw petition & limitation period for others be over by then. What is the safeguard?

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T. Kalaiselvan, Advocate (Expert) 19 May 2015
There is nothing wrong in filing an impleadment petition under such circumstances, if the court rejects the same, the other creditors in question can file a fresh application on the same lines. You may decide based on the circumstances and advise your clients accordingly.

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