Section 504 - Fixing of liquidators' remuneration. - Companies Act, 1956

Fixing of liquidators' remuneration. 504. (1) The committee of inspection, or if there is no such committee, the creditors, may fix the remuneration to be paid to the liquidator or liquidators. (2) Where the remuneration is not so fixed, it shall be determined by the [1] [Tribunal]. (3) Any remuneration fixed under sub-section (1) or (2) shall not be increased in any circumstances whatever, whether with or without the sanction of the 1[Tribunal]. ------------------------------------- Notes:- [1] Substituted for "Court" by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified.