Section - 463 - Companies Act, 1956

Section - 463 - Control of Central Government over liquidators

Control of Central Government over liquidators.

463. (1) The Central Government shall take cognizance of the conduct of liquidators of companies which are being wound up by the

[Tribunal], and, if a liquidator does not faithfully perform his duties and duly observe all the requirements imposed on him by this Act,

[or by the Indian Companies Act, 1913 (7 of 1913)], the rules thereunder, or otherwise, with respect to the performance of his duties, or if any complaint is made to the Central Government by any creditor or contributory in regard thereto, the Central Government shall inquire into the matter, and take such action thereon as it may think expedient :

[Provided that where the winding up of a company has commenced before the commencement of this Act, the [Tribunal] may, on the application of the Central Government, appoint in place of such liquidator the Official Liquidator as the liquidator in such winding up.]

(2) The Central Government may at any time require any liquidator of a company which is bein .... To read the full section download the app from Google Play store