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of <h1>Appointment of Liquidator Ends Board Powers Under Companies Act, 1956; Continuation Requires Committee or Creditor Approval.</h1> On the appointment of a liquidator under the Companies Act, 1956, the powers of the Board of directors are terminated. However, these powers may continue if approved by the committee of inspection or, in the absence of such a committee, by the creditors in a general meeting.
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