https://www.taxtmi.com/caselaws?id=109622 Section 450(3) of the Companies Act, 1956 gives a Provisional Liquidator the same powers as a liquidator unless the Court limits those powers by order. The applicants failed to show mala fides, misuse of power, misappropriation, or any material basis to recall the appointment or curtail authority. Actions taken by the Provisional Liquidator under Court supervision were found lawful and directed to protecting the company's assets and creditors' interests. Mere hardship to small depositors was held insufficient to justify interference under section 466, and the request to recall, stay, or restrict the appointment was rejected. en-us Tue, 08 Jul 2003 00:00:00 +0530 Wed, 11 Apr 2012 11:00:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109622 Section 450(3) of the Companies Act, 1956 gives a Provisional Liquidator the same powers as a liquidator unless the Court limits those powers by order. The applicants failed to show mala fides, misuse of power, misappropriation, or any material basis to recall the appointment or curtail authority. Actions taken by the Provisional Liquidator under Court supervision were found lawful and directed to protecting the company's assets and creditors' interests. Mere hardship to small depositors was held insufficient to justify interference under section 466, and the request to recall, stay, or restrict the appointment was rejected. Case-Laws Companies Law Tue, 08 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109622