(1)The Tribunal may, on a reasonable cause being shown and for reasons to be recorded in writing, remove the provisional liquidator or the Company Liquidator, as the case may be, as liquidator of the company on any of the following grounds, namely:—(a)misconduct;(b)fraud or misfeasance;(c)professional incompetence or failure to exercise due care and diligence in performance of the powers and functions;(d)inability to act as provisional liquidator or as the case may be, Company Liquidator;(e)conflict of interest or lack of independence during the term of his appointment that would justify removal.
