Liquidator duty to report fraud prompts tribunal-ordered investigation and power to summon and examine implicated persons. Where a company liquidator formed the opinion that fraud had been committed, the liquidator was required to report immediately to the Tribunal, which could order an investigation without prejudice to winding up, consider the investigation report, pass necessary orders and direct attendance and examination of persons about promotion, formation, conduct of the company or their dealings; provisions concerning examination were applied mutatis mutandis. The provision has since been omitted by later insolvency legislation.
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.
Liquidator duty to report fraud prompts tribunal-ordered investigation and power to summon and examine implicated persons.
Where a company liquidator formed the opinion that fraud had been committed, the liquidator was required to report immediately to the Tribunal, which could order an investigation without prejudice to winding up, consider the investigation report, pass necessary orders and direct attendance and examination of persons about promotion, formation, conduct of the company or their dealings; provisions concerning examination were applied mutatis mutandis. The provision has since been omitted by later insolvency legislation.
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