https://www.taxtmi.com/acts?id=15798 Where a company falls within prescribed classes and its assets do not exceed the statutory threshold, the Central Government may order summary winding up and appoint the Official Liquidator. The Official Liquidator must immediately take custody of all assets, effects and actionable claims and, within thirty days, submit a prescribed report including an opinion on any fraud in the company's promotion, formation or management. If fraud is suspected, the Government may order further investigation and then decide whether to continue under ordinary winding up or the summary procedure. en-us Fri, 23 Dec 2011 16:19:02 +0530 Fri, 23 Dec 2011 16:23:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15798 Where a company falls within prescribed classes and its assets do not exceed the statutory threshold, the Central Government may order summary winding up and appoint the Official Liquidator. The Official Liquidator must immediately take custody of all assets, effects and actionable claims and, within thirty days, submit a prescribed report including an opinion on any fraud in the company's promotion, formation or management. If fraud is suspected, the Government may order further investigation and then decide whether to continue under ordinary winding up or the summary procedure. Act-Rules Bills Fri, 23 Dec 2011 16:19:02 +0530 https://www.taxtmi.com/acts?id=15798