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Union of India - Section

Section 514 in The Companies Act, 1956

514. 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 company's Liquidator; or
(b)securing or preventing the appointment or nomination of some person other than himself, as the company's Liquidator, shall be punishable with fine which may extend to [ten thousand rupees].