The Companies Act, 2013
Chapter– XX Winding Up
Part II- Voluntary Winding Up
Section 313: Cesser of Board’s powers on appointment of Company Liquidator.
“313. 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.”
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