283. Custody of company’s properties
(1) Where a winding up order has been made or where a provisional liquidator has
been appointed, the Company Liquidator or the provisional liquidator, as the case may be,
shall, on the order of the Tribunal, forthwith take into his or its custody or control all the
property, effects and actionable claims to which the company is or appears to be entitled to
and take such steps and measures, as may be necessary, to protect and preserve the properties
of the company.
(2) Notwithstanding anything contained in sub-section (1), all the property and effects
of the company shall be deemed to be in the custody of the Tribunal from the date of the
order for the winding up of the company.
(3) On an application by the Company Liquidator or otherwise, the Tribunal may, at
any time after the making of a winding up order, require any contributory for the time being
on the list of contributories, and any trustee, receiver, banker, agent, officer or other employee
of the company, to pay, deliver, surrender or transfer forthwith, or within such time as the
Tribunal directs, to the Company Liquidator, any money, property or books and papers in his
custody or under his control to which the company is or appears to be entitled.