law: Companies Act, 2013 
  316.
  
    Company
  
  Liquidator to submit report on progress of winding up.
  1.      The Company
  
  Liquidator shall report quarterly on the progress of winding up of the company
  
  in such form and in such manner as may be prescribed to the members and
  
  creditors and shall also call a meeting of the members and the creditors as and
  
  when necessary but at least one meeting each of creditors and members in every
  
  quarter and apprise them of the progress of the winding up of the company in
  
  such form and in such manner as may be prescribed.
  2.      If the Company
  
  Liquidator fails to comply with the provisions of sub-section (1 ), he
  
  shall be punishable, in respect of each such failure, with fine which may
  
  extend to ten lakh rupees.