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[Cites 0, Cited by 2] [Section 477] [Entire Act]

Union of India - Subsection

Section 477(5) in The Companies Act, 1956

(5)[ If, on his examination, any officer or person so summoned admits that he is indebted to the company, the [Tribunal] [Inserted by Act 65 of 1960, Section 176 (w.e.f. 28.12.1960). ][may order him to pay to the provisional Liquidator or, as the case may be, the Liquidator at such time and in such manner as to the [Tribunal] [Inserted by Act 65 of 1960, Section 176 (w.e.f. 28.12.1960). ][may seem just, the amount in which he is indebted, or any part thereof, either in full discharge of the whole amount or not, as the [Tribunal] [Inserted by Act 65 of 1960, Section 176 (w.e.f. 28.12.1960). ][thinks fit, with or without costs of the examination.