Section 46 in The Maharashtra Non-Trading Corporations Act, 1959
46. Corporation to appoint and fix remuneration of liquidators.
(1)The corporation in general meeting shall–(a)appoint one or more liquidators for the purpose of winding up the affairs and distributing the assets of the corporation; and fix the remuneration, if any, to be paid to the liquidator or liquidators.(b)fix the remuneration, if any, to be paid to the liquidator or liquidators.(2)Before the remuneration of the liquidator or liquidators is fixed as aforesaid, the liquidator, or any of the liquidators, as the case may be, shall not take charge of the office.(3)The corporation shall give notice to the Registrar of the appointment of a liquidator or liquidators within ten days from the date of the appointment.
