Rules and Regulations of India

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Section 234 – THE COMPANIES (COURT) RULES, 1959

234. Company’s property to be surrendered to Official Liquidator on requisition

The powers conferred on the Court by section 468 may be exercised by the Official Liquidator. Any contributory for the time being on the list of contributories, trustee, receiver, banker or agent or officer of a company which is being wound-up under order of the Court, shall on notice from the Official Liquidator and within such time as he shall by notice require, pay, deliver, convey, surrender or transfer to or into the hands of the Official Liquidator any money, property or documents, books or papers which happen to be in his hands for the time being and to which the company is prima facie entitled. Where the person so required fails to comply with the notice, the Official Liquidator may apply to the Court for appropriate orders. The notice shall be in Form No. 99.

Calls in a winding-up by the Court

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