cease of board power and power and duties of company liquidator (in brief):- 1- As soon as the company liquidator is appointed, the all power and duties of the Board shall be ceased except to make intimation to the Registrar of companies for such appointment. 2-the company liquidator shall discharge such duties and function which shall be determine time to time by the company or creditors. 3-the company liquidator shall settle the list of contributories. 4-the company liquidator shall call the general meeting for the purpose of obtaining the sanction by ordinary or special resolution. 5-the company liquidator shall maintain the proper books and accounts 6- such books of accounts shall be inspected by the officer time to time who is appointed by the Central Government. 7-Company Liquidator shall maintain statement of accounts on quarterly basis and it shall be audited within 30 days and file with ROC. In case of failure, the amount up to Rs.5000/- shall be charged as penalised amount. 8-the company liquidator shall pay its debts and adjust the rights of contributories among themselves. 9-the company liquidators shall take care about its duties at the time of performance. 10-in case of default of this provision except section 313(5), the amount of penalty shall be imposed up to the limit of Rs. 10 lacs. (Section 313 and 314 of the Company Act, 2013)
Posted on: Sun, 22 Sep 2013 23:37:29 +0000
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