PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP (From Rule 179 to Rule 182)
Expenses of sale: gross proceeds must be paid to the liquidator; sale charges paid to auctioneer under tribunal scales. Where company assets are sold by the Company Liquidator through an auctioneer or other agent, the gross proceeds of the sale shall be paid over to the liquidator by such auctioneer or agent unless the Tribunal otherwise orders, and the charges and expenses connected with the sale shall afterwards be paid to such auctioneer or agent in accordance with scales, if any, fixed by the Tribunal.
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.
Expenses of sale: gross proceeds must be paid to the liquidator; sale charges paid to auctioneer under tribunal scales.
Where company assets are sold by the Company Liquidator through an auctioneer or other agent, the gross proceeds of the sale shall be paid over to the liquidator by such auctioneer or agent unless the Tribunal otherwise orders, and the charges and expenses connected with the sale shall afterwards be paid to such auctioneer or agent in accordance with scales, if any, fixed by the Tribunal.
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