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of <h1>Official Liquidator Appointment Rules in Company Winding-Up: Section 448 of Companies Act, 1956 Explained.</h1> Section 448 of the Companies Act, 1956, outlines the appointment of an Official Liquidator for company winding-up by the Tribunal. The Official Liquidator can be appointed from a professional panel, a corporate body, or as an officer by the Central Government. The Tribunal considers secured creditors' and workmen's opinions before appointment. Remuneration terms are set by the Tribunal or Central Government, forming part of the winding-up order and prioritized in asset realization. The Tribunal can transfer, remove, or take action against the Official Liquidator for misconduct, and may appoint deputies or assistants as needed.
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