If the liquidator fails to call a general meeting of the company, as aforesaid, he

If the liquidator fails to call a general meeting of the company, as aforesaid, he

shall be punishable with fine which may extend to five thousand rupees.

If the copy is not so sent or the return is not so made, the liquidator shall be punishable with fine which may extend to five hundred rupees for every day during which the default continues.

Within one week after the meeting, the liquidator must send to the Registrar and the Official Liquidator each a copy of the account and the return regarding holding of the meeting. In case quorum was not present at the meeting called, he must report accordingly.

If the copy is not so sent or the return is not so made, the liquidator shall be punishable with fine which may extend to five hundred rupees for every day during which the default continues.

On receipt of the above documents, the Registrar will forthwith register them. The Official Liquidator shall make a scrutiny of the books and papers of the company and report to the Court, the result of his scrutiny. If the report of the Official Liquidator shows that the affairs of the company have not been conducted in a manner prejudicial to the interest of its members or to public interest, then, from the date of submission of report to the Court, the company shall be deemed to have been dissolved. In the case of an unfavourable report, the court shall direct the Official Liquidator to make a further investigation of the affairs of the company. On receipt of the report of the Official Liquidator on such further investigation, the Court may either make an order that the company stands dissolved with effect from the date specified in the order or make such order as the circumstances of the case brought out in the report permit.