Company Liquidator powers to realise assets and manage winding up subject to tribunal control and directions. Company Liquidator powers in tribunal-ordered winding up include continuing the business as necessary, executing deeds and negotiable instruments in the company's name, selling movable and immovable property or the whole undertaking as a going concern, raising money on company assets, instituting or defending legal proceedings, inspecting statutory records, proving claims in contributories' insolvencies, taking letters of administration to recover debts, settling claims and distributing sale proceeds according to statutory priorities, obtaining professional assistance, appointing agents, and applying to the Tribunal for directions, all subject to the Tribunal's overall control.
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.
Company Liquidator powers to realise assets and manage winding up subject to tribunal control and directions.
Company Liquidator powers in tribunal-ordered winding up include continuing the business as necessary, executing deeds and negotiable instruments in the company's name, selling movable and immovable property or the whole undertaking as a going concern, raising money on company assets, instituting or defending legal proceedings, inspecting statutory records, proving claims in contributories' insolvencies, taking letters of administration to recover debts, settling claims and distributing sale proceeds according to statutory priorities, obtaining professional assistance, appointing agents, and applying to the Tribunal for directions, all subject to the Tribunal's overall control.
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