X was appointed as an official liquidator of ABC Company Ltd. at the time of passing of the order of winding up by NCLT. After few months, X suffered a cardiac arrest and due to his sudden demise, his position has become

Section 276 of the Companies Act, 2013 lays down that the Tribunal may on reasonable cause being shown and for reasons to be recorded in writing, the tribunal may remove the provisional liquidator or the Company liquidator, on any of the following grounds: Misconduct Fraud or misfeasance Professional Incompetence for failure to exercise due care and diligence in performance of the powers and functions Inability to act as provisional liquidator as the case maybe company liquidator Conflict of interest or lack of independence during the term of his appointment that would justify removal Further, in the event of death, resignation or removal of the liquidator the tribunal may transfer the work assigned to him to another Company liquidator for reasons to be recorded in writing. In the present case also, due to sudden demise of Mr. X, the Tribunal may transfer the work assigned to Late Mr X to another Company liquidator for reasons to be recorded in writing.