Removal and replacement of liquidator, etc.

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..... l on any of the following grounds, namely: (a) misconduct, (b) fraud or misfeasance, (c) professional incompetence or failure to exercise due care and diligence in performance of the powers and functions, (d) inability to act as liquidator, (e) conflict of interest or lack of independence during the term of his appointment. (2) If any vacancy occurs due to death, resignation, removal or otherwise .....

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