https://www.taxtmi.com/caselaws?id=103204 A voluntary liquidator may, with the requisite sanction, exercise powers available in a court winding up, including instituting proceedings in the company's name. However, section 468 of the Companies Act, 1956 is limited to contributories and specified custodians such as trustees, receivers, bankers, agents, officers, or employees, and does not extend to a mere debtor of the company. A disputed claim against a debtor therefore cannot be recovered by a summary company petition and must be pursued by a suit in the ordinary civil forum. The liquidator's remedy for such recovery lies in ordinary civil proceedings, not in a summary direction before the company court. en-us Mon, 05 Apr 1993 00:00:00 +0530 Tue, 21 Feb 2012 14:59:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103204 A voluntary liquidator may, with the requisite sanction, exercise powers available in a court winding up, including instituting proceedings in the company's name. However, section 468 of the Companies Act, 1956 is limited to contributories and specified custodians such as trustees, receivers, bankers, agents, officers, or employees, and does not extend to a mere debtor of the company. A disputed claim against a debtor therefore cannot be recovered by a summary company petition and must be pursued by a suit in the ordinary civil forum. The liquidator's remedy for such recovery lies in ordinary civil proceedings, not in a summary direction before the company court. Case-Laws Companies Law Mon, 05 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103204