Section 293- Books to be kept by Company Liquidator

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According to Section 293 of The Companies Act, 2013,

(1) The Company Liquidator shall keep proper books in such manner, as may be prescribed, in which he shall cause entries or minutes to be made of proceedings at meetings and of such other matters as may be prescribed.

(2) Any creditor or contributory may, subject to the control of the Tribunal, inspect any such books, personally or through his agent.

To understand this Section,

The first clause says that the Company Liquidator has to mandatorily keep proper books or in any prescribed format and have to mandatorily keep a record of the entries or minutes that happened at the proceedings at the meetings or any related matters which may be required.

The second clause says that any creditor or contributory can inspect those books kept by the Company Liquidator personally or through his agent with the permission or subject to the control of the Tribunal.

Applicable Rules

Companies (Winding Up) Rules, 2020

Registers and Books Of Account to be Maintained by Company Liquidator

Rule 79- Record book to be maintained by Company Liquidator

The Company Liquidator shall maintain a record book for each company in which shall be entered minutes of all the proceedings and resolutions passed at any meeting of the creditors or contributories or of the advisory committee, the substance of all orders passed by the Tribunal in the liquidation proceedings, and all such matters other than matters of account as may be necessary, to furnish a correct view of the administration of the company’s affairs.

Rule 80- Registers and books to be maintained by Company Liquidator

This rule talks about what all registers and books are to be maintained by the Company Liquidator throughout the winding up process.