The liquidator in a winding up by the Court shall have power under Section 457 (powers exercisable without the sanction of the tribunal)
(i) To do all acts and to execute, in the name and on behalf of the company, all deeds, receipts, and other documents, and for that purpose to use, when necessary, the company’s seal;
ii) To inspect records and returns of the company on the files of the Registrar without payment of any fee;]
(ii) To prove, rank and claim in the insolvency of any contributory, for any balance against his estate, and to receive dividends in the insolvency, in respect of that balance, as a separate debt due from the insolvent, and ratably with the other separate creditors;
(iii) To draw, accept, make and endorse any bill of exchange, hundi or promissory note in the name and on behalf of the company, with the same effect with respect to the liability of the company as if the bill, hundi, or note had been drawn, accepted, made or endorsed by or on behalf of the company in the course of its business;
(iv) To take out, in his official name, letters of administration to any deceased contributory, and to do in his official name any other act necessary for obtaining payment of any money due from a contributory or his estate which cannot be conveniently done in the name of the company, and in all such cases, the money due shall, for the purpose of enabling the liquidator to take out the letters of administration or recover the money, be deemed to be due to the liquidator himself:
(v) To appoint an agent to do any business which the liquidator is unable to do himself.
Winding up of a company leads to dissolution of the company. When the Court is of opinion that the liquidator cannot proceed with the winding up for want of funds or assets or for any other reason whatsoever, and that it is just and reasonable in the circumstances of the case that an order for the dissolution of the company be made, the Court may make an order that the company be dissolved from the date of the order, and the company is accordingly dissolved. A copy of this order has to be forwarded by the liquidator to the Registrar within 30 days and the Registrar is required to record it in his books.
(i) To do all acts and to execute, in the name and on behalf of the company, all deeds, receipts, and other documents, and for that purpose to use, when necessary, the company’s seal;
ii) To inspect records and returns of the company on the files of the Registrar without payment of any fee;]
(ii) To prove, rank and claim in the insolvency of any contributory, for any balance against his estate, and to receive dividends in the insolvency, in respect of that balance, as a separate debt due from the insolvent, and ratably with the other separate creditors;
(iii) To draw, accept, make and endorse any bill of exchange, hundi or promissory note in the name and on behalf of the company, with the same effect with respect to the liability of the company as if the bill, hundi, or note had been drawn, accepted, made or endorsed by or on behalf of the company in the course of its business;
(iv) To take out, in his official name, letters of administration to any deceased contributory, and to do in his official name any other act necessary for obtaining payment of any money due from a contributory or his estate which cannot be conveniently done in the name of the company, and in all such cases, the money due shall, for the purpose of enabling the liquidator to take out the letters of administration or recover the money, be deemed to be due to the liquidator himself:
(v) To appoint an agent to do any business which the liquidator is unable to do himself.
Winding up of a company leads to dissolution of the company. When the Court is of opinion that the liquidator cannot proceed with the winding up for want of funds or assets or for any other reason whatsoever, and that it is just and reasonable in the circumstances of the case that an order for the dissolution of the company be made, the Court may make an order that the company be dissolved from the date of the order, and the company is accordingly dissolved. A copy of this order has to be forwarded by the liquidator to the Registrar within 30 days and the Registrar is required to record it in his books.
Sabtu, 18 April 2015
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