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[Cites 0, Cited by 0] [Section 424G] [Entire Act]

Union of India - Subsection

Section 424G(2) in The Companies Act, 1956

(2)For the purpose of winding up of the sick industrial company, the Tribunal may appoint any officer of the operating agency, if the operating agency gives its consent, as the Liquidator of such industrial company and the officer so appointed shall for the purpose of the winding-up of such sick industrial company, be deemed to be, and have all the powers of, the official Liquidator under this Act.