Supervised winding-up grants the liquidator court-equivalent powers and deems proceedings stayed, including enforcement of calls. The omitted section treated a winding up subject to supervision as conferring on the liquidator, subject to Court-imposed restrictions, all powers exercisable as if the company were wound up voluntarily, and deemed such an order equivalent, for purposes including staying suits and enforcing calls, to a winding up by the Court, with the Court retaining full authority to make and enforce calls and to direct acts in favour of the liquidator.
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.
Supervised winding-up grants the liquidator court-equivalent powers and deems proceedings stayed, including enforcement of calls.
The omitted section treated a winding up subject to supervision as conferring on the liquidator, subject to Court-imposed restrictions, all powers exercisable as if the company were wound up voluntarily, and deemed such an order equivalent, for purposes including staying suits and enforcing calls, to a winding up by the Court, with the Court retaining full authority to make and enforce calls and to direct acts in favour of the liquidator.
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