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[Cites 0, Cited by 0] [Section 502] [Entire Act]

Union of India - Subsection

Section 502(2) in The Companies Act, 1956

(2)If the creditors and the company nominate different persons the person nominated by the creditors shall be Liquidator:Provided that any Director, member or creditor of the company may, within seven days after the date on which the nomination was made by the creditors, apply to the [Tribunal] for an order either directing that the person nominated as Liquidator by the company shall be Liquidator instead of or jointly with the person nominated by the creditors, or appointing the Official Liquidator or some other person to be Liquidator instead of the person appointed by the creditors.