Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 513 – The Companies Act,1956

The Companies Act, 1956

513. Body corporate not to be appointed as liquidator.

(1) A body corporate shall not be qualified for appointment as liquidator of a company in a voluntary winding up.

(2) Any appointment made in contravention of sub-section (1) shall be void.

(3) Any body corporate which acts as liquidator of a company and very director 1[***] or a manager thereof shall be punishable with fine which may extend to 2[ten thousand rupees].

3[Provided that, notwithstanding anything contained in any other law for the time being in force, a body corporate consisting of such professionals as may be approved by the Central Government from time to time, shall be qualified for appointment as Official Liquidator under section 448.]

—————————

1. The words “, managing agent, secretaries and treasurers,” omitted by Act 53 of 2000, sec. 203 (w.e.f. 13-12-2000).

2. Subs. by Act 53 of 2000, sec. 203, for “one thousand rupees” (w.e.f. 13-12-2000).

3. Ins. by Act 11 of 2003, sec. 89.

Previous | Next

The Companies Act, 1956

Indian Laws – Bare Acts

MyNation

Leave a Reply

Your email address will not be published.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

Copyright © 2018 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help just WhatsApp Away

MyNation HELP line

We are Not Lawyers but No Lawyer will give you Advice like We do

Please CLICK HERE to read Rules of Group, If You agree then Message us on Above Number.

We handle Women centric biased laws like False 498A, Domestic Violence(DVACT), Divorce, Maintenance, Alimony, Child Custody, HMA24, 125 CrPc, 307, 313, 376, 377, 406, 420, 506, 509 etc

Web Design BangladeshWeb Design BangladeshMymensingh