Section 458 - Discretion of liquidator. - Companies Act, 1956

Discretion of liquidator. 458. The [1] [Tribunal] may, by order, provide that the liquidator may exercise any of the powers referred to in sub-section (1) of section 457 without the sanction or intervention of the 1[Tribunal]: Provided always that the exercise by the liquidator of such powers shall be subject to the control of the 1[Tribunal]. ----------------------------------------- Notes:- [1] Substituted for Court by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified.