The Official Liquidator is appointed by the Central Government under section 448 of the Companies Act, 1956 attached to High Court of the State for the purpose of conducting liquidation proceedings of those companies which are ordered to be wound up by the High Court. Functionally the Official Liquidator is under the supervision and control of the High Court but administratively is under the control of the Central Government through the Regional Director.

    The Primary function of the Official liquidator is to administrate the assets of companies under liquidation, sale of the assets and realization of all debts of companies in liquidation for the purpose of distributing the same among the various creditors and other shareholders of the companies and to finally dissolve such companies after the affairs are completely concluded. When a company is put to winding up by an order of the High Court, the Official Liquidator attached to the said High Court takes possession of the company's assets, books of accounts, etc. and liquidates the company as per the further orders of the High Court. The procedure of liquidation is prescribed under the Companies (Court) Rules, 1959. More..

    The Officers and employees are performing the duties as prescribed in the Companies Act, 1956 and the Companies (Court) Rules, 1959 subject to the supervision, control and orders of the High Court of Delhi. The duties are assigned to the officers and employees by the Official Liquidator to take possession of the assets and liabilities of the properties of the companies in liquidation. Arrange for sale of the properties and other duties as mentioned in Para 1 above. The Official Liquidator passes appropriate orders regarding the duties of officers and employees working under him. More.

Create Account

Log In Your Account