this PPT is about the appointment and powers of liquidator

1. Appointment & Powers of
Liquidator

2. Appointment of Liquidator
• Tribunal shall appoint an OFFICIAL LIQUIDATOR
• The terms and conditions of appointment as well as the remuneration
shall be specified by the tribunal, on the basis of task, qualifications,
size etc.

3. Powers of Liquidator
• To carry on the business
• To do all acts and execute, in the name and on behalf of the company
• To sell Immovable and movable property
• To raise money, if required
• To institute or defend any suit
• To invite and settle claim of creditors, employees or any other
• To inspect the records
• To avoid fraudulent Preferences

4. Powers after taking approval from Tribunal
• Appoint one or more CA or CS for assistance
• To disclaim any property that has become a liability instead of an
asset
• To pay any class of creditors in full and compromise others
• To compromise calls, debts and other liabilities