Section 312 Omission: Liquidator Appointment Notification No Longer Mandatory Under Insolvency and Bankruptcy Code, 2016
Section 312 of the Companies Act, 2013, which was omitted by the Insolvency and Bankruptcy Code, 2016, previously required companies to notify the Registrar of the appointment of a Company Liquidator, including details of the liquidator, any vacancies, and appointments to fill such vacancies within ten days. Failure to comply with these notification requirements resulted in a fine for the company and any defaulting officers, with penalties accruing daily.
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