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
Tribunal] may appoint the Official Liquidator to be Liquidator provisionally. (2) Before appointing a provisional Liquidator, the [Tribunal] [ Substituted by Act 11 of 2003, Section ... thinks fit to dispense with such notice. (3) Where a provisional Liquidator is appointed by the [Tribunal] [ Substituted by Act 11 of 2003, Section
Tribunal] may appoint the Official Liquidator
to be liquidator provisionally.
(2) Before appointing a provisional Liquidator,
the Tribunal shall give notice to the company ... official liquidator as a provisional liquidator and an advocate as a
provisional liquidator must be viewed differently. When an official
liquidator is appointed
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
respectively, and the official liquidator has become the liquidator of these companies. The official liquidator has been appointed as the provisional liquidator of Jayalakshmi Mills ... order has been made or where a provisional liquidator has been appointed, the liquidator or the provisional liquidator, as the case may be, shall take
provisional liquidator is a drastic measure and should not be resorted to except in special circumstances. Both on authority and on principle, a provisional liquidator ... generally appointed before the hearing of the petition unless the company is shown to be insolvent. The dangers involved in appointing a provisional liquidator
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
provides for appointment of Official Liquidator. Section 450 provides for appointment and powers of provisionalLiquidator.
"S. 450 - Appointment and powers of provisional liquidator ... powers as a liquidator.
(4) The Official Liquidator shall cease to hold office as provisional liquidator, and shall become the liquidator, of the company
liquidator has been appointed ", while Section 446 of the present Act uses the expression " when the official liquidator has been appointed as provisional ... winding-up order, the court may appoint the official liquidator to be liquidator provisionally. But there is no provision in the Act for notifying