Liquidator duties: conduct winding up under Tribunal directions, with validity protections and prescribed official fees. The statute charges the liquidator with conducting winding up proceedings and performing duties as directed by the Tribunal, including administration of assets. When the Official Liquidator acts, prescribed fees are payable to the Central Government from company assets. Acts of a liquidator are valid despite later-discovered defects in appointment or qualification, except for acts done after the appointment is shown to be invalid.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Liquidator duties: conduct winding up under Tribunal directions, with validity protections and prescribed official fees.
The statute charges the liquidator with conducting winding up proceedings and performing duties as directed by the Tribunal, including administration of assets. When the Official Liquidator acts, prescribed fees are payable to the Central Government from company assets. Acts of a liquidator are valid despite later-discovered defects in appointment or qualification, except for acts done after the appointment is shown to be invalid.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
