valid as on 23/07/2024

Section 362. Sale of assets and recovery of debts due to company
Effective from 15-12-2016

(1) The shall expeditiously dispose of all the assets whether movable or immovable within sixty days of his appointment.

(2) The Official Liquidator shall serve a notice within thirty days of his appointment calling upon the debtors of the company or the contributories, as the case may be, to deposit within thirty days with him the amount payable to the .

(3) Where any debtor does not deposit the amount under sub-section (2), the  may, on an application made to it by the Official Liquidator, pass such orders as it thinks fit.

(4) The amount recovered under this section by the Official Liquidator shall be deposited in accordance with the provisions of section 349

2(61) Official Liquidator means an Official Liquidator appointed under sub-section (1) of section 359
Company means a company incorporated under this Act or under any previous company law
Delegation of power to Regional Directors at Mumbai, Kolkata, Chennai, New Delhi, Ahmedabad, Hyderabad and Shillong vide notification S.O. 4090(E). To view the notification,Click Here

Delegations of Powers to Regional Directors S.O. 4090(E) dated 19/12/2016

Enforcement Notification S.O. 3677(E) dated 07/12/2016

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