Rule 143 - Liquidator and members of the Committee dealing with company's assets. - Company Court Rules, 1959

Liquidator and members of the Committee dealing with company's assets. 143. Neither the Liquidator nor any member of the Committee of Inspection shall, while acting as liquidator or member of such committee in any winding-up either directly or indirectly, by himself or any employer, partner, clerk, agent, servant, or relative, become purchaser of any part of the company's assets, except by leave of the Court. Any such purchase made contrary to the pro visions of this Rule may be set aside by the Court on the application of the Liquidator or of a creditor or contributory, as the case may be, and the Court may make such order as to costs as it may think fit.