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The Companies Act, 1956

Winding Up (Section 425 to 560)

Section 516 Notice by liquidator of his appointment.

Section 516 Notice by liquidator of his appointment.

(1) The liquidator shall, within thirty days after his appointment in the Official Gazette and deliver to the Registrar for registration of his appointment in the form prescribed.

(2) If the liquidator fails to comply with sub-section (1), he shall be punishable with fine which may extend to five hundred rupees for every day during which the default continues.