Indian Bare Acts

The Companies Act, 1956

Title : The Companies Act, 1956

Year : 1956

Sec514    -     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 companys liquidator ; or

      (b) securing or preventing the appointment or nomination of some person other than himself, as the companys liquidator;shall be punishable with fine which may extend to ten thousand rupees.

Last updated on May, 2015

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