Companies Act, 1956
Section - 457 - Powers of liquidator
Powers of liquidator.457. (1) The liquidator in a winding up by the [Tribunal] shall have power, with the sanction of the [Tribunal],— (a) to institute or defend any suit, prosecution, or other legal proceeding, civil or criminal, in the name and on behalf of the company; (b) to carry on the business of the company so far as may be necessary for the beneficial winding up of the company; (c) to sell the immovable and movable property and actionable claims of the company by public auction or private contract, with power to transfer the whole thereof to any person or body corporate, or to sell the same in parcels;.... To read the full section download the app from Google Play store
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