Section 292 of CA 2013 : Section 292: Exercise And Control Of Company Liquidator?S Powers

CA 2013

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Explanation using Example

Imagine a scenario where XYZ Pvt. Ltd. is undergoing liquidation. The Company Liquidator is responsible for managing the company's assets and paying off the creditors. During this process, the creditors' group holds a general meeting and passes a resolution directing the liquidator to prioritize the sale of the company's real estate assets over its machinery.

Later, the contributories (shareholders) also hold a meeting and pass a conflicting resolution that the machinery should be sold first as it might depreciate in value fa...

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