Section 677 CAMA 2020

Section 677 Companies and Allied Matters Act is about Corrupt inducement affecting appointment as liquidator. It is under Chapter 24 (Provisions applicable to every mode of winding-up) of the Act.

Any person who gives, 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 a person other than himself as the company’s liquidator,commits an offence and is liable to a fine as the Court deems fit.