101. (1) A liquidator of a private company which is wound up, whether under the orders of a court or otherwise, shall, within thirty days after he has become such liquidator, give notice of his appointment as such to the Deputy Commissioner of Taxes having jurisdiction to assess the company. (2) The Deputy Commissioner of Taxes shall, after making such enquiries or, calling for such information as he may consider necessary, notify to the liquidator, within three months of the date of receipt of the notice under sub-section (1) the amount which, in his opinion, would be sufficient to provide for any tax which is then, or is likely thereafter to become, payable by the company. (3) On being notified under sub-section (2), the liquidator shall set aside an amount equal to the amount so notified and shall not, before he sets aside such amount, part with any of the assets, of the company except for the purpose of payment of tax payable by the company or for making payment to secure such creditors as are entitled under the law to priority of payment over the debts due to the Government on the date of liquidation. (4) The liquidator shall be personally liable for payment of the tax on behalf of the company to the extent of the amount notified, if any, under sub-section (2), if he- (a) fails to give notice as required by sub-section (1); or (b) contravenes the provisions of sub-section (3). (5) Where there are more liquidators than one, the obligations and liabilities of a liquidator under this section shall attach to all the liquidators jointly and severally. (6) This section shall have effect notwithstanding anything to the contrary contained in any other law for the time being in force. Explanation.-In this section, “liquidator” includes any person who has been appointed to be the receiver of the assets of the company under liquidation.