Dissolution

General198529 of 29 sections available5 chapters

Chapter V MISCELLANEOUS

Statutory text

(1) No provision of law, other than this Act relating to the winding up, dissolution or liquidation of the companies or corporation shall apply to the Corporation.
(2) The State Government may, if the Corporation fails to carry out its functions or exceeds its powers, or upon receipt of a report under section-21, call upon the Corporation to show cause why it should not be dissolved and if no explanation is offered within the specified period or if the State Government is not satisfied with the explanation, the State Government may, dissolve the Corporation from such date as may be specified.

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