Section 504 – The Companies Act,1956

The Companies Act, 1956

504. Fixing of liquidators’ remuneration.

(1) The committee of inspection, or if there is no such committee, the creditors, may fix the remuneration to be paid to the liquidator or liquidators.

(2) Where the remuneration is not so fixed, it shall be determined by the 1[Tribunal].

(3) Any remuneration fixed under sub-section (1) or (2) shall not be increased in any circumstances whatever, whether with or without the sanction of the 1[Tribunal].

——————————

1. Subs. by Act 11 of 2003, sec. 86, for “Court”.

Previous | Next

The Companies Act, 1956

Indian Laws – Bare Acts

MyNation

Leave a Comment

Your email address will not be published. Required fields are marked *