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of <h1>Company Liquidator can use Central Government funds for winding-up expenses with tribunal approval; reimbursement prioritized.</h1> When a company lacks available assets during a winding-up order, the Company Liquidator may, with Tribunal approval, use funds provided by the Central Government to cover necessary expenses. These expenses are prioritized for repayment from the company's assets before settling debts. If preliminary expenses were covered by advances from petitioners, creditors, or contributors, these amounts are also reimbursed with priority. Additionally, if the Official Liquidator manages a Common Pool Fund or Establishment Fund, these funds may continue to be used for their intended purposes, with reimbursement from the company's assets prioritized as funds become available.
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