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of <h1>Section 275: Rules for appointing company liquidators, their powers, fees and independence in winding up proceedings</h1> Section 275 governs appointment and terms of company liquidators in Tribunal-ordered winding up. Upon making a winding up order, the Tribunal must appoint either an Official Liquidator or a liquidator from among insolvency professionals registered under the Insolvency and Bankruptcy Code, 2016. A provisional liquidator, if appointed, generally has the same powers as a liquidator, subject to any limitations imposed by the Tribunal. The Tribunal fixes the liquidator's terms, conditions, and fees, considering the tasks, experience, qualifications, and company size. The liquidator must file a declaration within seven days, and on a continuing basis, disclosing any conflict of interest or lack of independence. A previously appointed provisional liquidator may be confirmed as Company Liquidator.
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