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[Cites 0, Cited by 0] [Section 291] [Entire Act]

Union of India - Subsection

Section 291(2) in Companies (Court) Rules, 1959

(2)Where a winding-up order is made and the Official Liquidator acts as liquidator of a company.
(i)Upon the total assets, including produce of calls on contributories, interest on investments and rents from properties, realised or brought to credit by the Official Liquidator, after deducting sums on which fees are chargeable under clauses (3) and (4) below and the amount spent out of the money received in carrying on the business of the company, upon each year's collections.
On the first Rs. 10,000 or fraction thereof ... 3 per cent.On the next Rs. 40,000 or fraction thereof ... 2 per cent.On the next Rs. 50,000 or fraction thereof ... 1 per cent.Above Rs. 1,00,000 ... 3/4 per cent.
(ii)On the total amount distributed in dividend or paid to contributories, preferential creditors, and debenture-holders by the Official Liquidator, half the above percentages.