Company in liquidation.

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..... , shall, within thirty days after he has become such liquidator, give notice of his appointment as such to the Assessing Officer who is entitled to assess the income of the company. (2) The Assessing Officer shall, after making such inquiries or calling for such information as he may deem fit, notify to the liquidator within three months from the date on which he receives notice of the appointme .....

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..... with such assets or properties for the purpose of-- (a) the payment of the tax payable by the company; or (b) making any payment to secured creditors whose debts are entitled under law to priority of payment over debts due to Government on the date of liquidation; or (c) meeting such costs and expenses of the winding up of the company, as are in the opinion of the Principal Chief Commission .....

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..... hall attach to all the liquidators jointly and severally. (8) The provisions of this section shall have effect irrespective of anything to the contrary contained in any other law in force, except the provisions of the Insolvency and Bankruptcy Code, 2016 (31 of 2016). - Clause 322 of the Bill provides for the procedures to be followed by companies in liquidation and the responsibilities of the .....

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