Companies Act, 1956
Sec 514 - Corrupt inducement affecting appointment as liquidator.
Any person who gives, or agrees or offers to give, to any member or creditor of a company any gratification whatever with a view to
(a) securing his own appointment or nomination as the company's liquidator ; or
(b) securing or preventing the appointment or nomination of some person other than himself, as the company's liquidator; shall be punishable with fine which may extend to ten thousand rupees.