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        Companies Law

        Rule 318 - Limit of remuneration of liquidator.

        Company Court Rules, 1959
        Chapter 01

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        Limit on liquidator remuneration: prohibition on accepting gifts or diverting fees to company-connected persons or third parties. A liquidator is prohibited from accepting or arranging any gift, remuneration, pecuniary or other benefit beyond the statutory remuneration, from advocates, auctioneers, persons connected with the company, or those employed in or in connection with the winding-up, and must not give up or divert any part of such statutory remuneration to those persons.
                          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.

                                Limit on liquidator remuneration: prohibition on accepting gifts or diverting fees to company-connected persons or third parties.

                                A liquidator is prohibited from accepting or arranging any gift, remuneration, pecuniary or other benefit beyond the statutory remuneration, from advocates, auctioneers, persons connected with the company, or those employed in or in connection with the winding-up, and must not give up or divert any part of such statutory remuneration to those persons.


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