17 Collections and Distribution of Assets in a Winding-Up by a Tribunal
(1) Company Liquidator to be in the position of a receiver.-For the discharge by the Company Liquidator of the duties imposed by sub-section (1) of section 290, the Company Liquidator shall, for the purpose of acquiring and retaining possession of the property of the company, be in the same position as if he were a receiver of the property appointed by the Tribunal, and the Tribunal may on his application enforce such acquisition or retention accordingly.
(2) Company s property to be to surrendered to Company Liquidator on requisition.-The powers conferred on the Tribunal by sub-section (3) of section 283 may be exercised by the Company Liquidator. Any contributory for the time being on the list of contributories, trustee, receiver, banker or agent or officer of a company which is being wound-up under order of the Tribunal, shall on notice from the Company Liquidator and within such time as he shall by notice require, pay, deliver, convey, surrender or transfer to or into the hands of the Company Liquidator any money, property or documents, books or papers which happen to be in his hands for the time being and prima facie entitled. Where the person so required fails to comply with the notice, the Company Liquidator may apply to the Tribunal for appropriate orders. The notice shall be in Form No. 35. |