Section 47 in The Maharashtra Non-Trading Corporations Act, 1959
47. Board’s powers to cease on appointment of liquidator.
On the appointment of a liquidator, all the powers of the Board of directors andsecretaries and treasurers and manager if there be any of these, shall cease, except for the purpose of giving notice of such appointment to the Registrar in pursuance of section 40 or in so far as the corporation in general meeting or the liquidator may sanction the continuance thereof.
