What is Appointment of Official Liquidator? What are the Powers and functions of Official Liquidator? Section 359 and 360 of Indian Companies Act 2013

Appointment of Official Liquidator and Powers and functions of Official Liquidator are defined under Section 359 and 360 of Indian Companies Act 2013. Provisions under these Sections are:

Section 359 of Indian Companies Act 2013 "Appointment of Official Liquidator"

 

(1) For the purposes of this Act, so far as it relates to the winding up of companies by the Tribunal, the Central Government may appoint as many Official Liquidators, Joint, Deputy or Assistant Official Liquidators as it may consider necessary to discharge the functions of the Official Liquidator.

(2) The liquidators appointed under sub-section (1) shall be whole-time officers of the Central Government.

(3) The salary and other allowances of the Official Liquidator, Joint Official Liquidator, Deputy Official Liquidator and Assistant Official Liquidator shall be paid by the Central Government.

Section 360 of Indian Companies Act 2013 "Powers and functions of Official Liquidator"

(1) The Official Liquidator shall exercise such powers and perform such duties as the Central Government may prescribe.

(2) Without prejudice to the provisions of sub-section (1), the Official Liquidator may -

(a) exercise all or any of the powers as may be exercised by a Company Liquidator under the provisions of this Act; and

(b) conduct inquiries or investigations, if directed by the Tribunal or the Central Government, in respect of matters arising out of winding up proceedings.

What is Liability under sections 339 and 340 to extend to partners or directors in firms or companies? What is Prosecution of delinquent officers and members of company? Section 341 and 342 of Indian Companies Act 2013

Company Liquidator to exercise certain powers subject to sanction. What is Statement that company is in liquidation? Section 343 and 344 of Indian Companies Act 2013

What is the meaning of Books and papers of company to be evidence? What is inspection of books and papers by creditors and contributories? Section 345 and 346 of Indian Companies Act 2013

What is Disposal of books and papers of company? What is Information as to pending liquidations? Section 347 and 348 of Indian Companies Act 2013

What is the meaning of Official Liquidator to make payments into public account of India? What is Company Liquidator to deposit monies into scheduled bank? Section 349 and 350 of Indian Companies Act 2013

What is Liquidator not to deposit monies into private banking account? What is Company Liquidation Dividend and Undistributed Assets Account? Section 351 and 352 of Indian Companies Act 2013

Liquidator to make returns, etc What is Meetings to ascertain wishes of creditors or contributories? Section 353 and 354 of Indian Companies Act 2013

Court, tribunal or person, etc., before whom affidavit may be sworn? What are the Powers of Tribunal to declare dissolution of company void? Section 355 and 356 of Indian Companies Act 2013

What is Commencement of winding up by Tribunal? What is Exclusion of certain time in computing period of limitation? Section 357 and 358 of Indian Companies Act 2013

What is Appointment of Official Liquidator? What are the Powers and functions of Official Liquidator? Section 359 and 360 of Indian Companies Act 2013

  

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