Removal and replacement of company liquidators: provision omitted by insolvency reform, previously set notice, reply and three fourths vote rules. Section 311, concerning the power to remove and fill vacancy of a Company Liquidator, was omitted by the Insolvency and Bankruptcy Code, 2016 w.e.f. 15-11-2016. Previously it allowed removal by the appointing body (company or creditors), required written notice of grounds and an opportunity to reply, mandated a three fourths members' or creditors' vote to remove, and provided that vacancies by death, resignation, removal or otherwise be filled as specified in section 310.
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.
Removal and replacement of company liquidators: provision omitted by insolvency reform, previously set notice, reply and three fourths vote rules.
Section 311, concerning the power to remove and fill vacancy of a Company Liquidator, was omitted by the Insolvency and Bankruptcy Code, 2016 w.e.f. 15-11-2016. Previously it allowed removal by the appointing body (company or creditors), required written notice of grounds and an opportunity to reply, mandated a three fourths members' or creditors' vote to remove, and provided that vacancies by death, resignation, removal or otherwise be filled as specified in section 310.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
