Section 384:
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
384. Inducement to be appointed liquidator
(1) Subject to subsection (2), any person who gives or agrees or offers
to give to any member or creditor of a company any valuable consideration
with a view to securing his own appointment or nomination, or to securing
or preventing the appointment or nomination of some person other than himself, as the company’s liquidator shall commit an offence and shall be liable,
on conviction, to a fine not exceeding 100,000 rupees and to imprisonment
for a term not exceeding 2 years.
(2) The negotiation or discussion in good faith of remuneration for undertaking the appointment shall not constitute a breach of subsection (1).