adjudication of a person as an insolvent or by any liquidator or provisional liquidator appointed in proceedings for the winding up of a company
made to Official Liquidator .-
(1) Where the [Tribunal] has made a winding up order or appointed the Official Liquidator as provisional Liquidator, unless the [Tribunal ... Official Liquidator, be punishable accordingly. (8) In this section, the expression "the relevant date" means, in a case where a provisional Liquidator is appointed
order, the [Tribunal] may appoint the Official Liquidator to be Liquidator provisionally. (2) Before appointing a provisional Liquidator, the [Tribunal] [ Substituted ... thinks fit to dispense with such notice. (3) Where a provisional Liquidator is appointed by the [Tribunal] [ Substituted by Act 11 of 2003, Section
make any interim order as it thinks fit; (c) appoint a provisional liquidator of the company till the making of a winding up order ... date of presentation of the petition: Provided further that before appointing a provisional liquidator under clause (c), the Tribunal shall give notice to the company
difference between provisional winding up
and final winding up. Though a Provisional Liquidator has wide
powers, Provisional Liquidator ensures the protection of assets
during ... appointment of the Provisional Liquidator on 13 February 2002.
(h) In the facts of the present case, the Provisional
Liquidator was appointed with
appointment of Official Liquidator. Section 450 provides for appointment and powers of provisionalLiquidator.
"S. 450 - Appointment and powers of provisional liquidator ... order, the Court may appoint the Official Liquidator to be liquidator provisionally.
(2) Before appointing a provisional liquidator, the Court shall give notice
official liquidator to be liquidator provisionally."
Section 450(3) of the said Act provides that where a provisional liquidator is appointed by the court ... provisional liquidator. It is neither possible nor desirable to exhaustively enumerate the situations in which a provisional liquidator may be appointed by the company court
order,
the court may appoint the official liquidator to be liquidator provisionally.
(2) Before appointing a provisional liquidator, the court shall give notice ... same powers as liquidator.
(4) The official liquidator shall cease to hold office as provisional liquidator,
and shall become the liquidator of the company
order the (Tribunal) may appoint the
Official Liquidator to be liquidator provisionally.
(2) Before appointing a provisional Liquidator, the (Tribunal) shall give
notice ... deals with the appointment of a
provisional liquidator; Section 450 (2) necessitates that before a
provisional liquidator is appointed, notice must be given
provisional liquidator or
liquidator, such matters cannot be transferred to NCLT. However, where
the OL has not been appointed as provisional liquidator or liquidator ... matters. However, in
my opinion, once an Official Liquidator has been appointed as
Provisional Liquidator, normally the matter would not be
transferred to NCLT