Sale of assets and recovery of debts: Official Liquidator to realise assets and recover dues; Central Government may order measures. The Official Liquidator must expeditiously realise movable and immovable assets and serve a formal demand on debtors and contributories for amounts due; if debtors fail to pay, the Central Government may, on the Official Liquidator's application, make appropriate orders to secure recovery, and recovered amounts must be deposited in accordance with the relevant statutory provision.
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.
Sale of assets and recovery of debts: Official Liquidator to realise assets and recover dues; Central Government may order measures.
The Official Liquidator must expeditiously realise movable and immovable assets and serve a formal demand on debtors and contributories for amounts due; if debtors fail to pay, the Central Government may, on the Official Liquidator's application, make appropriate orders to secure recovery, and recovered amounts must be deposited in accordance with the relevant statutory provision.
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