Official Liquidators - Law Dictionary Search Results
Home Dictionary Name: official liquidatorsOfficial liquidators
Official liquidators, officers appointed to conduct the proceedings and to assist the court in winding up a joint-stock company, (English) Companies Act, 1862, s. 92. See now (English) Companies Act, 1929, s. 185, replacing the (English) Companies (Consolidation) Act, 1908, ss. 149 et seq., where they are styled 'liquidators....
Liquidator
Liquidator. A person appointed to conduct the winding-up of a company under the (English) Companies Act, 1929. Liquidators are of three kinds:--(1) Appointed by the court in a winding-up by the Court. pending appointment the Official Receiver in Bankruptcy is to act as Official Receiver and Liquidator in the winding-up (s. 185). By s. 186, in England, liquidators other than the Official Receiver must provide security to the satisfaction of the Board of Trade. His duties comprise the collection of the company's property, and this property or any part of it may vest in him on his application. He may bring or defend actions relating to that property in his own official name (s. 190). Powers which he may exercise subject to the sanction of the court or a Committee of Inspection are setout in s. 191(1); sub-s. (2) of that section gives a list of powers for which such sanction is not required. The duties of a liquidator are to collect, administer, and distribute the assets, having regard to ...
Official receivers
Official receivers, officers appointed by the Board of Trade under s. 66 of the (English) Bankruptcy Act, 1883, to act as interim receivers and managers of bankrupts' estates, pending the appointment of trustees in bankruptcy: see now Bankruptcy Act, 1914, ss. 70 et seq. The report of an official receiver is absolutely privileged, Bottomley v. Brougham, (1908) 1 KB 584; Burr v. Smith, (1909) 2 KB 306. As to the official receiver becoming provisional liquidator on the making of a winding-uporder, see Companies Act, 1929, s. 185, and LIQUIDATOR...
Winding-up
Winding-up, the process by which an insolvent estate is distributed, as far as it will go, amongst the persons having claims upon it. The term is most frequently applied to the winding-up of joint-stock companies.The property of a company is collected and distributed firstly in discharge of its liabilities, and secondly, among its members according to their respective rights with a view to its dissolution. If the assets are not sufficient to meet the liabilities, a company is usually wound up by the Court. In other cases the winding-up is usually voluntary and conducted by the company itself either with or without the supervision of the Court. The provisions of the (English) Companies Act, 1929, govern a winding-up in any of these three modes (s. 156). In any winding-up the members who may be called upon to contribute are ascertained and their liability determined under ss. 157-162; see CONTRIBUTORIES. Debts and claims of all kinds require to be proved and if not of certain value to be...
Official act or duty
Official act or duty, 'official' according to dictionary, means pertaining to an office. And official act or official duty means an act or duty done by an officer in his official capacity, State of Maharashtra v. Budhikota Subbarao, (1993) 3 SCC 339: (1993) 2 SCR 329....
Official secrets
Official secrets. The (English) Official Secrets Act, 1889, was the first Act aimed at the prevention of the disclosure of official secrets. This Act was repealed and re-enacted with amendments by the (English) Official Secrets Act, 1911, which has been amended by the (English) Official Secrets Act, 1920. It is made an offence to spy in a 'prohibited place,' or wrongfully to communicate codes, plans, models, documents, or information relating to such a place, or to munitions of war, or which are used in such a place. There are special provisions as to arrest, the harbouring of spies, and the issue of search warrants. A Secretary of State may require the production of any document relating to a telegram or cable or wireless message. Every person who carries on the business of receiving letters, postal packets, or telegrams for other persons must be registered with the police and keep a record of the letters, etc., passing through his hands, and must not give up a letter, etc., unless a ...
Officiating continuously in a senior post
Officiating continuously in a senior post, the ex-pression 'officiated continuously in a senior post' in Rule 3(3)(b) of the Seniority Rules is to be constructed to mean holding a senior post on officiating basis prior to substantive appointment on such senior post. Since a person cannot be treated as officiating on a post after he has been substantively appointed on that post, the said expression cannot be construed as referring to the period of officiation subsequent to the date of substantive appointment, O.S. Singh v. Union of India, (1996) 7 SCC 37 (44). [I.P.S. (Regulation of Seniority) Rules, 1954]...
liquidated
liquidated 1 : settled or determined by liquidating see also liquidated damages at damage 2 : capable of being readily fixed, calculated, or ascertained as a sum esp. without dispute or reliance on opinion or discretion ...
liquidator
liquidator : one that liquidates ;esp : an individual appointed by law to liquidate assets compare receiver ...
Act purporting to be done in official capacity
Act purporting to be done in official capacity, The words 'act purporting to be done in official capacity' have been construed to apply to non-feasance as well as to misfeasance. The word 'act' extends to illegal omissions, see Prasaddas v. Bennerjee, ILR (1930) 57 Cal 1127. No distinction can be made between acts done illegally and in bad faith and acts done bona fide in official capacity. See Bhagchand Dagadusa's case. S. 80 of the Code of Civil Procedure therefore is attracted when any suit is filed against a public officer in respect of any act purporting to be done by such public officer in his official capacity, State of Maharashtra v. Shri Chander Kant, AIR 1977 SC 148 (150): (1977) 1 SCR 933: (1977) 1 SCC 257. (M.P. Public Truts Act, 1951, s. 8)...
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