Indian Bare Acts

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The Companies Act, 1956

Title : The Companies Act, 1956

Year : 1956

Sec 448    -     Appointment of Official Liquidator.

    (1) For the purposes of this Act, so far as it relates to the winding up of companies by the Court,

      (a) there shall be attached to each High Court, an Official Liquidator appointed by the Central Government, who shall be whole-time officer, unless the Central Government considers that there will not be sufficient work for a whole-time officer in which case a part-time officer may be appointed ; and

      (b) the Official Receiver attached to a District Court for insolvency purposes, or if there is no such Official Receiver, then, such person as the Central Government may, by notification in the Official Gazette appoint for the purpose, shall be the Official Liquidator attached to the District Court.

    (1A) The Central Government may appoint one or more Deputy or Assistant Official Liquidators to assist the Official Liquidator in the discharge of his functions.

    (2) All references to the "Official Liquidator" in this Act shall be construed as references to the Official Liquidator referred to in clause (a) or clause (b), as the case may be, of sub-section (1) and as including references to Deputy or Assistant Official Liquidators appointed under sub-section (1A).

Last updated on May, 2015

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