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of <h1>New Rule 14: Steps for Appointing Provisional Liquidator After Winding-Up Petition Accepted</h1> Rule 14 of the Companies (Winding Up) Rules, 2020 outlines the procedure for appointing a provisional or company liquidator after a winding-up petition is admitted by the Tribunal. The Tribunal may appoint a provisional liquidator based on sufficient grounds, with terms deemed just and necessary. The order will specify any limitations on the liquidator's powers and require individuals holding company assets to surrender them. The Registrar must notify the liquidator within seven days of the order. The appointed liquidator must disclose any conflicts of interest and is typically chosen from registered insolvency professionals, unless an official liquidator is appointed.
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