Winding up intimation: Registrar notification and liquidator-led committee oversee asset recovery, reporting and final dissolution. Tribunal winding up or provisional liquidator orders must be intimated within seven days to the Company Liquidator or provisional liquidator and the Registrar, who endorses records, publishes the order and notifies stock exchanges for listed companies. Within three weeks the Company Liquidator must seek constitution of a winding up committee (Official Liquidator, secured creditor nominee, Tribunal nominated professional) to assist with asset taking, statement of affairs, recovery and sale of assets, review of accounts, creditor lists, settlement of claims and payment matters. The Liquidator submits monthly reports and committee approved final report to the Tribunal for dissolution.
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.
Winding up intimation: Registrar notification and liquidator-led committee oversee asset recovery, reporting and final dissolution.
Tribunal winding up or provisional liquidator orders must be intimated within seven days to the Company Liquidator or provisional liquidator and the Registrar, who endorses records, publishes the order and notifies stock exchanges for listed companies. Within three weeks the Company Liquidator must seek constitution of a winding up committee (Official Liquidator, secured creditor nominee, Tribunal nominated professional) to assist with asset taking, statement of affairs, recovery and sale of assets, review of accounts, creditor lists, settlement of claims and payment matters. The Liquidator submits monthly reports and committee approved final report to the Tribunal for dissolution.
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