163. (1) An application challenging the disclaimer may be made by the
following persons under this section to the Adjudicating Authority-
(a) any person who claims an interest in the disclaimed property; or
(b) any person who is under any liability in respect of the disclaimed
property; or
(c) where the disclaimed property is a dwelling house, any person who on the
date of application for bankruptcy was in occupation of or entitled to
occupy that dwelling house.
(2) The Adjudicating Authority may on an application under sub-section (1)
make an order for the vesting of the disclaimed property in, or for its
delivery to any of the persons mentioned in sub-section (1).
(3) The Adjudicating Authority shall not make an order in favour of a person
who has made an application under clause (b) of sub-section (1) except where
it appears to the Adjudicating Authority that it would be just to do so for
the purpose of compensating the person.
(4) The effect of an order under this section shall be taken into account
while assessing loss or damage sustained by any person in consequence of the
disclaimer under sub-section (5) of section 160.
(5) An order under sub-section (2) vesting property in any person need not
be completed by any consequence, assignment or transfer.