Section 119: Document in possession of receiver

119. Document in possession of receiver (1) A receiver shall not be required to hand over to a liquidator any record or document that the receiver requires for the purpose of exercising any powers or functions as receiver in relation to property of a company in liquidation. (2) A liquidator may, by notice in writing, require a receiver to— (a) make such record and document available for inspection by the liquidator at any reasonable time; and (b) provide the liquidator with copies of such record and document or extracts from them. (3) The liquidator shall pay the reasonable expenses of the receiver in complying with a requirement of the liquidator under subsection (2). (4) No person may, as against the liquidator of a company, claim or enforce a lien over a record or document of the company. (5) Where the lien arises in relation to a debt for the provision of services to the company before the commencement of the liquidation, the debt is a preferential claim against the company that may be made under paragraph 1 (3) (a) (ii) of the Fourth Schedule to the extent of 20,000 rupees, or such other amount that may be prescribed. (6) Nothing in this section applies to a company that was put into liquidation pursuant to section 137 (1) (b).