Liquidator appointments of professionals: Tribunal sanction required; disclosures and panel oversight govern assistance in winding-up. The Liquidator may, with the Tribunal's sanction, appoint practising accountants, company secretaries, cost accountants, Tribunal-entitled legal practitioners, other professionals, experts, valuers or agencies as necessary; if appointed from a panel, the Liquidator must report appointment terms, fees, source of funds, funds available with the LLP and extent of unrealized assets to the Tribunal, and the panel must be maintained with Tribunal approval. Appointees must disclose conflicts or lack of independence in Form No 14, and the Tribunal may remove any panel member for cause.
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 appointments of professionals: Tribunal sanction required; disclosures and panel oversight govern assistance in winding-up.
The Liquidator may, with the Tribunal's sanction, appoint practising accountants, company secretaries, cost accountants, Tribunal-entitled legal practitioners, other professionals, experts, valuers or agencies as necessary; if appointed from a panel, the Liquidator must report appointment terms, fees, source of funds, funds available with the LLP and extent of unrealized assets to the Tribunal, and the panel must be maintained with Tribunal approval. Appointees must disclose conflicts or lack of independence in Form No 14, and the Tribunal may remove any panel member for cause.
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 
