https://www.taxtmi.com/acts?id=12811 If the Tribunal, after inquiry and hearing, concludes a sick industrial company cannot restore net worth, meet obligations, or become viable, it may order the winding up. For winding up the Tribunal may appoint an operating agency officer as liquidator with official liquidator powers, sell assets and direct distribution under the Act, and aim to conclude winding up within one year. en-us Tue, 17 May 2011 12:30:11 +0530 Tue, 17 May 2011 12:30:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12811 If the Tribunal, after inquiry and hearing, concludes a sick industrial company cannot restore net worth, meet obligations, or become viable, it may order the winding up. For winding up the Tribunal may appoint an operating agency officer as liquidator with official liquidator powers, sell assets and direct distribution under the Act, and aim to conclude winding up within one year. Act-Rules Companies Law Tue, 17 May 2011 12:30:11 +0530 https://www.taxtmi.com/acts?id=12811