The Companies Act, 1956
333. RIGHT OF MANAGING AGENT TO CHARGE ON COMPANY’S ASSETS.
A managing agent whose office stands terminated under section 324 or 332 shall be entitled to a charge on the assets of the company in respect of all moneys which are due to him from the company at the date of such termination, or which he may have to pay after that date in respect of any liability or obligation properly incurred by him on behalf of the company before such date, subject to all existing charges and incumbrances, if any, on such assets.
