Companies Act, 1956
Sec 504 - Fixing of liquidators' remuneration.
(1) The committee of inspection, or if there
is no such committee, the creditors, may fix the remuneration to be paid to the
liquidator or liquidators.
(2) Where the remuneration is not so fixed, it
shall be determined by the Court.
(3) Any remuneration fixed under sub-section
(1) or (2) shall not be increased in any circumstances whatever, whether with
or without the sanction of the Court.