Section 360
Powers and functions of Official Liquidator.
About this Act
An Act to consolidate and amend the law relating to companies.
(1) The Official Liquidator shall exercise such
powers and perform such duties as the Central Government may prescribe.
(2) Without prejudice to the provisions of sub-section (1), the Official Liquidator may--
(a) exercise all or any of the powers as may be exercised by a Company Liquidator under the provisions of this Act; and
(b) conduct inquiries or investigations, if directed by the Tribunal or the Central Government, in respect of matters arising out of winding up proceedings.
(2) Without prejudice to the provisions of sub-section (1), the Official Liquidator may--
(a) exercise all or any of the powers as may be exercised by a Company Liquidator under the provisions of this Act; and
(b) conduct inquiries or investigations, if directed by the Tribunal or the Central Government, in respect of matters arising out of winding up proceedings.