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of <h1>Section 459 of Companies Act 1956 amended; liquidators can now appoint diverse professionals for assistance with tribunal approval.</h1> Section 459 of the Companies Act, 1956, as amended by the Companies (Second Amendment) Act, 2002, allows a liquidator, with the Tribunal's approval, to appoint chartered accountants, company secretaries, cost accountants, or legal practitioners to assist in fulfilling their duties. This provision updates the earlier version, which permitted the appointment of advocates, attorneys, or pleaders with the Court's sanction. The amendment reflects a shift from court to tribunal oversight and broadens the scope of professionals who can provide legal assistance in the liquidation process.
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