https://www.taxtmi.com/caselaws?id=110236 The Court rejected applications seeking the appointment of an Independent Liquidator in a Company Petition, emphasizing that only the Official Liquidator appointed by the Central Government can oversee liquidation proceedings, with the potential assistance of Deputy or Assistant Official Liquidators. The Court held the State Government responsible for the Company's affairs until assets were transferred to the Official Liquidator, directing the State Government to deposit funds for initial expenses and provide financial statements. The judgment underscored the statutory framework governing Liquidator appointments in winding up proceedings supervised by the Court, emphasizing adherence to legal provisions and the Official Liquidator's authority in managing the Company's winding up. en-us Fri, 15 Oct 2004 00:00:00 +0530 Sat, 14 Apr 2012 13:05:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110236 The Court rejected applications seeking the appointment of an Independent Liquidator in a Company Petition, emphasizing that only the Official Liquidator appointed by the Central Government can oversee liquidation proceedings, with the potential assistance of Deputy or Assistant Official Liquidators. The Court held the State Government responsible for the Company's affairs until assets were transferred to the Official Liquidator, directing the State Government to deposit funds for initial expenses and provide financial statements. The judgment underscored the statutory framework governing Liquidator appointments in winding up proceedings supervised by the Court, emphasizing adherence to legal provisions and the Official Liquidator's authority in managing the Company's winding up. Case-Laws Companies Law Fri, 15 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110236