Section 313- Cesser of Board's powers on appointment of Company Liquidator. [Corresponds to Section 491, 505 of the Companies Act, 1956]
Prior to Omission w.e.f 15.11.2016, Section 313 read as under:
Section 313- Cesser of Board's powers on appointment of Company Liquidator
On the appointment of a Company Liquidator, all the powers of the Board of Directors and of the managing or whole-time directors and manager, if any, shall cease, except for the purpose of giving notice of such appointment of the Company Liquidator to the Registrar.