31 May 2016
Receiver is basically appointed by the secured Creditors of the Company ( Usually lender) as per the security agreement. They may or may not be insolvency practioner. On other hand liquidators are appointed by High Court to carry on winding up proccedings of the Company under Compulsory winding up and in case of Voluntary winding up, PCS, PCA or advocate can act as the liquidator appointed by members of Company and shall have minimum experience of 10 years.
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