Bare ActsCompanies Act, 1956

Section 514

Corrupt inducement affecting appointment as liquidator

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Any person who gives, or agrees or offers to give, to any member or creditor of a company any gratification whatever with a view to-- (a) securing his own appointment or nomination as the company's liquidator; or (b) securing or preventing the appointment or nomination of some person other than himself, as the company's liquidator; shall be punishable with fine which may extend to [ten thousand rupees].

Section 514 – Companies Act, 1956 | DailyLaw.ai