The Companies Act, 1956
514. Corrupt inducement affecting appointment as liquidator.
Any person who gives or agrees or offers to give, to any member or creditor of a company any gratification whatever with a view to
(a)securing his own appointment or nomination as the company’s liquidator; or
(b)securing or preventing the appointment or nomination of some person other than himself, as the company’s liquidator,
shall be punishable with fine which may extend to 1[ten thousand rupees].
1. Subs. by Act 53 of 2000, sec. 204, for “one thousand rupees” (w.e.f. 13-12-2000).