COMPANIES ACT, 1956 Section 505 - Bare Act |
| State | Central Government |
| Year | 1956 |
| Section Title | Board's powers to cease on appointment of liquidator |
On the appointment of a liquidator, all the powers of the Board of directors shall cease, except insofar as the committee of inspection, or if there is no such committee, the creditors in general meeting, may sanction the continuance thereof.