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<h1>Liquidators must keep detailed records under Section 461 of the Companies Act, 1956; creditors can inspect under supervision.</h1> Section 461 of the Companies Act, 1956 mandates that a liquidator must maintain proper books in a prescribed manner, documenting proceedings at meetings and other specified matters. Creditors or contributories have the right to inspect these books, either personally or through an agent, under the supervision of the Tribunal. The term 'Tribunal' has replaced 'Court' as per the Companies (Second Amendment) Act, 2002, although the effective date for this substitution is yet to be notified.