Appointment of provisional liquidator restricts powers to specified acts and mandates immediate custody of company property. Tribunal appoints a Provisional Liquidator by order on petition and affidavits, limiting the liquidator's authority to the acts expressly described, directing immediate takeover of all company property and effects, allowing a schedule for specifically directed assets, charging application costs as costs in the petition, and imposing a duty on those required to submit the company's books to attend the provisional liquidator and provide completed audited accounts and required information.
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.
Appointment of provisional liquidator restricts powers to specified acts and mandates immediate custody of company property.
Tribunal appoints a Provisional Liquidator by order on petition and affidavits, limiting the liquidator's authority to the acts expressly described, directing immediate takeover of all company property and effects, allowing a schedule for specifically directed assets, charging application costs as costs in the petition, and imposing a duty on those required to submit the company's books to attend the provisional liquidator and provide completed audited accounts and required information.
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