Liquidator custody retained during appeal: appointed liquidator controls society property and may preserve assets or carry on business with approval. The Central Registrar may appoint a liquidator and fix remuneration; the liquidator must take into custody or control all property, effects and actionable claims of the society and may take necessary steps to prevent loss or damage and, with prior approval, carry on the business. If an appeal is preferred the winding up order does not operate until confirmed, yet the liquidator retains custody and authority to act; if the order is set aside on appeal the society's property, effects and actionable claims revest in the society.
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.
Liquidator custody retained during appeal: appointed liquidator controls society property and may preserve assets or carry on business with approval.
The Central Registrar may appoint a liquidator and fix remuneration; the liquidator must take into custody or control all property, effects and actionable claims of the society and may take necessary steps to prevent loss or damage and, with prior approval, carry on the business. If an appeal is preferred the winding up order does not operate until confirmed, yet the liquidator retains custody and authority to act; if the order is set aside on appeal the society's property, effects and actionable claims revest in the society.
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