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of <h1>Clause 292: Company Liquidator's Powers and Creditor Influence During Winding Up Process</h1> Clause 292 of the Companies Bill, 2011, outlines the powers and control of a Company Liquidator during the winding up of a company by the Tribunal. The Liquidator must consider directions from creditor or contributory resolutions at general meetings or from the advisory committee. In case of conflict, directions from creditors or contributories take precedence. The Liquidator can summon meetings to gauge their wishes and must do so upon resolution or written request from at least one-tenth in value of creditors or contributories. Aggrieved parties can apply to the Tribunal, which may alter the Liquidator's decisions as deemed appropriate.
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