Body corporate not to be appointed as liquidator.

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..... Any body corporate which acts as liquidator of a company, and every director [1] [* * *] or a manager thereof, shall be punishable with fine which may extend to [2] [ten thousand rupees]: [3] [ Provided that, notwithstanding anything contained in any other law for the time being in force a body corporate consisting of such professionals as may be approved by the Central Government fro .....

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