Section 353: Liquidator to make returns, etc
This section is for ensuring Company Liquidators comply with requirements to file documents and notices, and provides for penalties and costs for non-compliance.
The section, clause by clause
What the section says
In plain terms
(1)If any Company Liquidator who has made any default in filing, delivering or making any return, account or other document, or in giving any notice which he is by law required to file, deliver, make or give, fails to make good the default within fourteen days after the service on him of a notice requiring him to do so, the Tribunal may, on an application made to it by any contributory or creditor of the company or by the Registrar, make an order directing the Company Liquidator to make good the default within such time as may be specified in the order.
If a Company Liquidator fails to file or deliver required documents or notices and doesn't fix the issue within 14 days of being notified, the Tribunal can order them to fix it within a specified time.
(2)Any order under sub-section (1) may provide that all costs of, and incidental to, the application shall be borne by the Company Liquidator.
The Tribunal can also order the Company Liquidator to pay all costs related to the application made against them.
(3)Nothing in this section shall prejudice the operation of any enactment imposing penalties on a Company Liquidator in respect of any such default as aforesaid.
This section does not affect any existing laws that impose penalties on a Company Liquidator for failing to file or deliver required documents or notices.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.