Companies Act, 2017

PART-X

PROVISIONS APPLICABLE TO CREDITORS’ VOLUNTARY WINDING UP

From: 2023-11-01 - To: 0000-00-00 363. Appointment of liquidator- (1) The creditors and the company at their respective meetings mentioned in sections 357 and 362 may nominate a person, who has given his written consent to act as such, to be liquidator for the purpose of winding up the affairs and distributing the assets of the company. (2) If the creditors and company nominate different persons, the persons nominated by the creditors shall be liquidator: Provided that any director, member or creditor of the company may, within fifteen days after the date on which the nomination was made by the creditors, apply to the Court for an order either directing that the person nominated as liquidator by the company shall be liquidator instead of or jointly with the person nominated by the creditors or appointing some other person to be liquidator instead of the person appointed by the creditors. (3) If no…