Cost and expenses payable out of the assets in a winding up by Tribunal

Cost and expenses payable out of the assets in a winding up by Tribunal https://www.taxtmi.com/acts?id=38579 Assets of a company in Tribunal winding up, after payment of preservation and realisation expenses, are liable to a specified order of priority: taxed petition costs; costs of those preparing the statement of affairs; necessary liquidator disbursements (excluding preservation expenses); costs of persons employed by liquidators; liquidator's costs and charges; and sanctioned advisory committee expenses. Bills of authorised representatives require allowance by the taxing officer (unless the Tribunal orders otherwise) and proof of sanctioned appointment. The rule does not affect costs ordered in pending legal proceedings. en-us Thu, 06 Feb 2020 18:51:56 +0530 Wed, 07 Jan 2026 17:30:35 +0530 TaxTMI RSS Generator Cost and expenses payable out of the assets in a winding up by Tribunal https://www.taxtmi.com/acts?id=38579 Assets of a company in Tribunal winding up, after payment of preservation and realisation expenses, are liable to a specified order of priority: taxed petition costs; costs of those preparing the statement of affairs; necessary liquidator disbursements (excluding preservation expenses); costs of persons employed by liquidators; liquidator's costs and charges; and sanctioned advisory committee expenses. Bills of authorised representatives require allowance by the taxing officer (unless the Tribunal orders otherwise) and proof of sanctioned appointment. The rule does not affect costs ordered in pending legal proceedings. Act-Rules Companies Law Thu, 06 Feb 2020 18:51:56 +0530 https://www.taxtmi.com/acts?id=38579