'Liquidators' and their appointments.

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..... 9;Liquidator' who may be either an 'Official Liquidator' or a Liquidator appointed by an order of the Tribunal from the panel maintained by the Central Government. Provided that in the absence of any such order, the Official Liquidator shall become or act as 'Liquidator' or 'Provisional Liquidator', as the case may be. (2) For the purposes of appointment of a Li .....

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..... l Government may remove the name of any person or firm or body corporate from the panel maintained under sub-rule (2) on the grounds of misconduct, fraud, misfeasance, breach of duties or professional incompetence: Provided that the Central Government before removing the name of any such person or firm or body corporate from panel, shall give him or it a reasonable opportunity of being heard. .....

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..... ons of appointment of a liquidator from panel and the fee payable to him shall be specified by the Tribunal on the basis of task required to be performed, experience, qualification and size of the LLP. (7) On appointment as Provisional Liquidator or Liquidator from panel, such liquidator shall file a declaration in the Form No 6 disclosing conflict of interest or lack of independence in respe .....

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