Appointment of administrator: selection from a government-maintained professional databank; administrator may assume company management and engage experts. Appointment of an administrator requires selection from a professional databank maintained by the Central Government or an authorised institute comprising specified professionals; terms and conditions of interim and company administrators are to be ordered by the Tribunal, which may also direct an administrator to take over company assets or management and, with approval, engage experts to assist in management.
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.
Appointment of administrator: selection from a government-maintained professional databank; administrator may assume company management and engage experts.
Appointment of an administrator requires selection from a professional databank maintained by the Central Government or an authorised institute comprising specified professionals; terms and conditions of interim and company administrators are to be ordered by the Tribunal, which may also direct an administrator to take over company assets or management and, with approval, engage experts to assist in management.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
