July 2023

Commencement of Voluntary Winding Up [Omitted] Amendment 1. (a) Omitted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016. – Original Content (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016. Original Omitted Content– 308. A voluntary winding up shall be deemed to commence on the […]

Publication of Resolution to Wind Up Voluntarily [Omitted] Amendment 1. (a) Omitted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016. (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016. Original Omitted Content– 307.(1) Where a company has passed a resolution for voluntary winding up

Meeting of Creditors [Omitted] Amendment 1. (a) Omitted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016 (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016. Original Omitted Content– 306. (1) The company shall along with the calling of meeting of the company at which

Declaration of Solvency in Case of Proposal to Wind Up Voluntarily Omitted] Amendment 1 (a) Omitted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016 (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 305. (1)Where it is proposed to wind up

Circumstances in Which Company May be Wound up Voluntarily [Omitted] Amendment 1 (a) Omitted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016. (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 304. A company may be wound up voluntarily,– (a) if

Appeals from Orders Made Before Commencement of Act. Nothing in this Chapter shall affect the operation or enforcement of any order made by any Court in any proceedings for the winding up of a company immediately before the commencement of this Act and an appeal against such order shall be filed before such authority competent to hear

Dissolution of Company by Tribunal (1) When the affairs of a company have been completely wound up, the Company Liquidator shall make an application to the Tribunal for dissolution of such company. (2) The Tribunal shall on an application filed by the Company Liquidator under sub-section (1) or when the Tribunal is of the opinion that it is just and reasonable in the circumstances of the case

Arrest of Person Trying to Leave India or Abscond At any time either before or after passing a winding up order, if the Tribunal is satisfied that a contributory or a person having property, accounts or papers of the company in his possession is about to leave India or otherwise to abscond, or is about to remove or conceal any of

Power to order examination of promoters, Directors, etc (1) Where an order has been made for the winding up of a company by the Tribunal, and the Company Liquidator has made a report to the Tribunal under this Act, stating that in his opinion a fraud has been committed by any person in the promotion, formation, business or conduct of affairs of

Power to summon persons suspected of having property of company, etc (1) The Tribunal may, at any time after the appointment of a provisional liquidator or the passing of a winding up order, summon before it any officer of the company or person known or suspected to have in his possession any property or books or papers, of the company, or