19 Professional Assistance for the Company Liquidator
(1) The Company Liquidator shall, as far as possible, personally appear and conduct all proceedings before the Tribunal in the liquidation:
Provided that the Company Liquidator may apply to the Tribunal for sanction to employ professional(s) as an authorised representative or authorised representatives to assist him in pursuance of sub-section (1) of section 291, and the Tribunal may on such application, sanction such employment or pass such orders as it may think fit.
Provided that such appointment shall be made from the panel maintained by the company Liquidator with the approval of the Tribunal.
(2) In pursuance of sub-section (2) of section 291, the professional appointed by the Company Liquidator with the sanction of the Tribunal shall file a declaration in Form No. 40 disclosing conflict of interest or lack of independence in respect of his appointment. During the term of his appointment, if in future, any conflict of interest arises, it shall be duty of Company Liquidator/ Provisional Liquidator to declare the same before the Tribunal, within seven days from the date of appointment. |