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Who can be appointed as a liquidator?

A liquidator must be a licensed insolvency practitioner.

Who acts as a liquidator?

The petitioning creditor nominated a person to act as liquidator and the court would generally appoint the nominated party unless the court was not satisfied the person could properly perform the role because of a lack of ability or independence.

What is the role of the MCA?

MCA Header The Ministry is also responsible for administering the Competition Act, 2002 to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers through the commission set up under the Act.

What is official liquidation?

PROCEDURE FOR OFFICIAL LIQUIDATION Liquidation is the process of closing down, winding up or dissolving a company.

What is the full form of MCA in a company?

The Ministry of Corporate Affairs (MCA) is primarily concerned with the administration of the Companies Act 2013, the Companies Act 1956, The Limited Liability Partnership Act, 2008 other allied Acts, rules regulations framed mainly for regulating the functioning of the corporate sector in ance with law.

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