Section - 515 - Power of Tribunal to appoint and remove liquidator in voluntary winding up
[Power of Tribunal to appoint and remove liquidator in voluntary winding up.515. (1) If from any cause whatever, there is no liquidator acting, the Tribunal may appoint the Official Liquidator or any other person as a liquidator.(2) The Tribunal may, on cause shown, remove a liquidator and appoint the Official Liquidator or any other person as a liquidator in place of the removed liquidator.(3) The Tribunal may also appoint or remove a liquidator on the application made by the Registrar in this behalf.(4) If the Official Liquidator is appointed as liquidator under the proviso to sub-section (2) of or under this section, the remuneration to be paid to him shall be fixed by the Tribunal and shall be credited to the Central Government.]
74. Substituted by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified. Prior to its substitution, section 515, as amended by the Companies (Amendment) Act, 1960 read as under : "515. Power of Cour .... To read the full section download the app from Google Play store
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