Section 117 — Power of Court to fix remuneration of receiver or manager

(1) The Court may, on an application made to it by the receiver or manager of the
property, by order fix the amount to be paid by way of remuneration to any person
who, under the power contained in an instrument, has been appointed as receiver
or manager of the company’s property:

Provided that the amount of remuneration shall not exceed such limits as
may be specified.

(2) The power of the Court under sub -section (1) shall, where no
previous order has been made with respect thereto—

(a) extend to fixing the remuneration for any period before the making
of the order or the application therefore;

(b) be exercisable notwithstanding that the receiver or manager had died
or ceased to act before the making of the order or the application
therefore; and

(c) where the receiver or manager has been paid or has retained for his
remuneration for any period before the making of the order any
amount in excess of that so fixed for that period, extend to requiring
him or his representativ e to account for the excess or such part
thereof as may be specified in the order:

Provided that the power conferred by clause (c) shall not be exercised as
respects any period before the making of the application or the order unless in the
opinion of the Court there are special circumstances making it proper for the
power to be so exercised.

(3) The Court may from time to time, on an application made either by
the liquidator or by the receiver or manager, or by the r egistrar, vary or amend an
order made under sub-section (1) and issue directions to the receiver respecting his
duties and functions or any other matter as it may deem expedient:

Provided that an order made under sub-section (1) shall not be varied so as
to increase the amount of remuneration payable to any person.

PART VII
MANAGEMENT AND ADMINISTRATION