In this article we will discuss about the powers and duties of a liquidator of a company. Also you will learn about the order of payment by a liquidator. Powers of Liquidator: Subject to certain legal provisions and adherence to certain procedures the powers of a liquidator are broadly enumerated as follows: (1) He can […]
Powers and Duties of a Liquidator | Company
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Distribution of Surplus by Liquidator | Company
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When all the liabilities are paid by the Liquidator and even then some amount remains in balance with him, he distributes this balance called surplus among the shareholders of the company. The following guidelines are as follows: (1) Surplus is to be distributed as per the provisions of the Memorandum of Association and Articles of […]
Liquidator’s Statement of Affairs | Company
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In this article we will discuss about the accounting treatment for liquidator’s statement of affairs, explained with the help of a suitable illustrations. Statement of Affairs to be made to Official Liquidator: As per Section 454 of the Companies Act, the Officers or Directors of the Company under winding up order, must make out and […]