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Jun 24, 2024 · A liquidator is a person assigned to take charge of and wind up a company's affairs before it closes—usually due to bankruptcy. The liquidator is generally...
When a company goes into liquidation, a liquidator is appointed to manage the affairs of the company and ensure that its assets are distributed fairly among creditors and shareholders. The liquidator plays a crucial role in winding up the company's affairs and completing the liquidation process.
Aug 21, 2024 · A liquidator refers to an entity appointed to manage the liquidation process of a company. The appointed entity's primary responsibility is to gather the company's assets and settle all claims against the company using the assets.
Jun 16, 2016 · A liquidator is an agent of the company, while a Court-appointed liquidator is, in addition, an officer of the Court, having a duty to act responsibly. He is accountable to the creditors, to the shareholders and also to the court.
Oct 27, 2023 · Review by the Liquidator: The liquidator, who is an independent professional appointed to oversee the liquidation process, reviews the submitted claims. They assess the validity, accuracy, and completeness of each claim.
The liquidator is an insolvency professional on whom all the powers of the Board of Directors, key managerial personnel and the partners, as applicable, of the Corporate Debtor are vested by the Adjudicating Authority upon Liquidation order being passed under section 33 of the Insolvency and Bankruptcy Code, 2016. (The Code)
In law, a liquidator is the officer appointed when a company goes into winding-up or liquidation who has responsibility for collecting in all of the assets under such circumstances of the company and settling all claims against the company before putting the company into dissolution.
A liquidator is appointed by the NCLT (National Company Law Tribunal) under the Insolvency and Bankruptcy Code. The National Company Law Tribunal appoints the liquidator when it passes an order for the liquidation of a body corporate under debt.
Aug 21, 2023 · In voluntary winding up, a liquidator is an individual appointed by the shareholders or members of a company to oversee the winding-up process and manage the affairs of the company during the period of its dissolution.
(1) For the purposes of winding up of a company by the Tribunal, the Tribunal at the time of the passing of the order of winding up, shall appoint an Official Liquidator or a liquidator from the panel maintained under sub-section (2) as the Company Liquidator.
