Indian Bare Acts

The Companies Act, 1956

Title : The Companies Act, 1956

Year : 1956

Sec513    -     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 every director, or a manager thereof, shall be punishable with fine which may extend to ten thousand rupees.

Last updated on May, 2015

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