Provisions applicable to every mode of winding up Default committed by liquidator under the section Process as to how payment of dues from delinquent liquidator can be enforced

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..... under the section ‑ Process as to how payment of dues from delinquent liquidator can be enforced The process as to how the payment of the dues from a delinquent liquidator of a company in liquidation can be enforced has been considered. It has been held that any moneys due from a liquidator in terms of provisions in sub‑sections (1) and (2) and also as interest and penalty in terms of .....

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..... tion 555(3) rendering account of the moneys with him. The Registrars are continued to be "officers" appointed by the Central Government in this behalf in terms of the provisions of section 555(3) on the basis of the Notification No. 24(49) Tr. (CL)38(ii), dated 5‑4‑1941 which is continuing to be in force on the strength of provisions in section 645. In order to comply with the order is .....

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..... er cent in the 1913 Act but the Registrar had no power therein to levy any additional penalty. In the 1956 Act the rate of interest has been reduced to 12 per cent but an unrestricted power has been given to the Registrar to levy additional penalty which is not justiciable. This is sufficiently deterrent and should be suitably explained to the delinquent liquidator when necessary.
Circular, Tr .....

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