Lawgist38ACourt liquidator
1[38A. Court Liquidator.--(1) There shall be attached to every High Court a court liquidator to be appointed by the Central Government for the purpose of conducting all proceedings for the winding up of banking companies and performing such other duties in reference thereto as the High Court may impose.
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(4) Where having regard to the number of banking companies wound up and other circumstances of the case, the Central Government is of opinion that it is not necessary or expedient to attach for the time being a court liquidator to a High Court, it may, from time to time, by notification in the Official Gazette, direct that this section shall not have effect in relation to that High Court.]
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1. Ins. by Act 52 of 1953, s. 6 (w.e.f. 30-12-1953).
- 36B High Court defined
- 37 Suspension of business
- 38 Winding up by High Court
- 38A Court liquidator
- 39 Reserve Bank to be official liquidator
- 39A Application of Companies Act to liquidators
- 40 Stay of proceedings
- 41 Preliminary report by official liquidator
- 41A Notice to preferential claimants and secured and unsecured creditors
- 42 Power to dispense with meetings of creditors, etc
- 43 Booked depositors' credits to be deemed proved
- 43A Preferential payments to depositors
- 44 Powers of High Court in voluntary winding up
- 44A Procedure for amalgamation of banking companies
- 44B Restriction on compromise or arrangement between banking company and creditors
- 45 Power of Reserve Bank to apply to Central Government for suspension of business by a banking company and to prepare scheme of reconstitution or amalgamation
