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Power to summon and compel production in winding up allows ordering payment or delivery of company property. After appointment of a provisional liquidator or a winding up order, the Tribunal may summon officers or persons believed to hold company property, books, papers, or to be indebted to the company, examine them on oath, and require production of documents while determining any claimed lien. The Tribunal may direct the liquidator to report on debts or property held by others and, if indebtedness or possession is found, order payment or delivery to the provisional liquidator or liquidator on just terms; such orders are executed as decrees under the Code of Civil Procedure and discharge complying persons from further liability unless stated otherwise.
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.
<h1>Power to summon and compel production in winding up allows ordering payment or delivery of company property.</h1> After appointment of a provisional liquidator or a winding up order, the Tribunal may summon officers or persons believed to hold company property, books, papers, or to be indebted to the company, examine them on oath, and require production of documents while determining any claimed lien. The Tribunal may direct the liquidator to report on debts or property held by others and, if indebtedness or possession is found, order payment or delivery to the provisional liquidator or liquidator on just terms; such orders are executed as decrees under the Code of Civil Procedure and discharge complying persons from further liability unless stated otherwise.
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