Section 506 - Power to fill vacancy in office of liquidator. - Companies Act, 1956

Power to fill vacancy in office of liquidator. 506. If a vacancy occurs by death, resignation or otherwise, in the office of a liquidator (other than a liquidator appointed by, or by the direction of the [1] [Tribunal]), the creditors in general meeting, may fill the vacancy. ----------------------------------------------- Notes:- [1] Substituted for "Court" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified.