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of <h1>Vacancy in Liquidator Role: Creditors Can Appoint Replacement Under Section 506 of Companies Act, 1956.</h1> Section 506 of the Companies Act, 1956, provides that if a vacancy arises in the office of a liquidator due to death, resignation, or other reasons, the creditors in a general meeting have the authority to fill this vacancy. This provision applies to liquidators not appointed by or directed by the Tribunal.
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