Companies Act, 1956

Section - 546 - Liquidator to exercise certain powers subject to sanction

Miscellaneous provisions

Liquidator to exercise certain powers subject to sanction.

546. (1) The liquidator may—

         (a)  with the sanction of the [Tribunal], when the company is being wound up by [the Tribunal] ; and

         (b)  with the sanction of a special resolution of the company, in the case of a voluntary winding up,—

      (i)  pay any classes of creditors in full;

     (ii)  make any compromise or arrangement wi .... To read the full section download the app from Google Play store