Companies Act, 1956
Section - 507 - Application of section 494 to a creditors’ voluntary winding up
Application of to a creditors’ voluntary winding up.507. The provisions of shall apply in the case of a creditors’ voluntary winding up as in the case of a members’ voluntary winding up, with the modification that the powers of the liquidator under that section shall not be exercised except with the sanction either of the [Tribunal] or of the committee of inspection.
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