Section 12(2) in Uttaranchal Value Added Tax Act, 2005
(2)Liability in case of Company in Liquidation:-(a) Every person -(i)who is a liquidator of any company which is being wound up whether under the orders of a court or otherwise; or(ii)who has been appointed the receiver of any assets of a company (herein after referred to as the "Liquidator"), shall, within 30 days after he has become such liquidator, give notice of his appointment as such to the Assessing Authority ;(b)The Assessing Authority shall, after making such enquiries or calling for such information as he may deem fit, notify the liquidator within three months from the date on which he receives notice of the appointment of the liquidator, the amount which in the opinion of the Assessing Authority would be sufficient to provide for any tax (including any penalty or interest) which is then, or is likely thereafter, to become payable by the company,(c)The liquidator shall not part with any of the assets of the company or the properties in his hand until he has been notified by the Assessing Authority under clause (b) above and on being so notified, the liquidator shall set aside an amount equal to the amount notified by the Assessing Authority and, until he so sets aside such amount, he shall not part with any of the assets of the company or the properties in his hand:Provided that nothing contained in this clause shall debar the liquidator from parting with such assets or properties in compliance with any order of a court or for the purpose of the payment of tax and penalty, if any, payable by the company under this Act or for making any payment to secure creditors whose debts are entitled under law to priority of payments over debts due to Government on the date of liquidation or for meeting such cost and expenses of the winding up of the company as are in the opinion of the Assessing Authority reasonable;(d)If the liquidator fails to give notice in accordance with clause (a) or fails to set aside the amount as required by clause (c) or parts with any assets of the company or the properties in his hand in contravention of the provision of that clause, he shall be personally liable for the payment of tax, penalty and interest, if any which the company would be liable to pay under this Act:Provided that if the amount of tax, penalty and interest, if any, payable by the company is notified under clause (b) the personal liability of the liquidator under this sub-section shall be to the extent of such amount.(e)Where there are more liquidators than one, the obligation and liabilities attached to the liquidator under this Section shall attach to all liquidators jointly and severally;(f)the provisions of this Section shall have effect notwithstanding anything to the contrary contained in any other law for the time being in force;(g)for the purpose of this Section, the expressions "company" and "private company" shall have the meanings respectively assigned to them under clauses (i) and (ii) of sub-section (1) of Section 3 of the Companies Act,1956.
