Official Liquidator Fees Credited to Government, Based on Asset Realization; Court Sets Provisional and Voluntary Liquidation Fees

In winding-up cases where the Official Liquidator acts as Liquidator, fees must be credited to the Central Government from the company's assets or by the petitioner. The fees are determined based on the assets realized or distributed, with specific percentages applied to different asset brackets. For provisional liquidators, fees are court-determined. The Official Liquidator's fees also apply when acting as a trustee or performing special duties, with court approval. Fees for voluntary winding-up and additional liquidators are also court-fixed. The court may reduce fees if deemed excessive or during company reconstruction or arrangement.

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