Question

Write short answers for the following :
State the powers of the Official Liquidator?

Answer 1

The Official Liquidator shall exercise such powers and perform such duties as the Central Government may prescribe.
Without prejudice to the provisions of sub-section (1),the Official Liquidator may—exercise all or any of the powers as may be exercised by a Company Liquidator under the provisions of this Act; and conduct inquiries or investigations, if directed by the Tribunal or the Central Government, in respect of matters arising out of winding up proceedings.