Companies Act, 2013

Winding up of unregistered companies

375. Winding up of unregistered companies.— (1) Subject to the provisions of this Part, any unregistered company may be wound up under this Act, in such manner as may be prescribed, and all the provisions of this Act, with respect to winding up shall apply to an unregistered company, with the exceptions and additions mentioned […]

Meetings to ascertain wishes of creditors or contributories

354. Meetings to ascertain wishes of creditors or contributories.— (1) In all matters relating to the winding up of a company, the Tribunal may— (a) have regard to the wishes of creditors or contributories of the company, as proved to it by any sufficient evidence; (b) if it thinks fit for the purpose of ascertaining

Court, tribunal or person, etc., before whom affidavit may be sworn

355. Court, tribunal or person, etc., before whom affidavit may be sworn.— (1) Any affidavit required to be sworn under the provisions, or for the purposes, of this Chapter may be sworn— (a) in India before any court, tribunal, judge or person lawfully authorised to take and receive affidavits; and (b) in any other country

Power of Tribunal to declare dissolution of company void

356. Powers of Tribunal to declare dissolution of company void.— (1) Where a company has been dissolved, whether in pursuance of this Chapter or of section 232 or otherwise, the Tribunal may at any time within two years of the date of the dissolution, on application by the Company Liquidator of the company or by

Commencement of winding up by Tribunal

357. Commencement of winding up by Tribunal.— (1) Where, before the presentation of a petition for the winding up of a company by the Tribunal, a resolution has been passed by the company for voluntary winding up, the winding up of the company shall be deemed to have commenced at the time of the passing

Exclusion of certain time in computing period of limitation

358. Exclusion of certain time in computing period of limitation.— Notwithstanding anything in the Limitation Act, 1963 (36 of 1963), or in any other law for the time being in force, in computing the period of limitation specified for any suit or application in the name and on behalf of a company which is being

Appointment of Official Liquidator

359. Appointment of Official Liquidator.— (1) For the purposes of this Act, so far as it relates to the winding up of companies by the Tribunal, the Central Government may appoint as many Official Liquidators, Joint, Deputy or Assistant Official Liquidators as it may consider necessary to discharge the functions of the Official Liquidator. (2)

Books and papers of company to be evidence

345. Books and papers of company to be evidence.— Where a company is being wound up, all books and papers of the company and of the Company Liquidator shall, as between the contributories of the company, be prima facie evidence of the truth of all matters purporting to be recorded therein.

Official Liquidator to make payments into public account of India

349. Official Liquidator to make payments into public account of India.—Every Official Liquidator shall, in such manner and at such times as may be prescribed, pay the monies received by him as Official Liquidator of any company, into the public account of India in the Reserve Bank of India.

Company Liquidator to deposit monies into scheduled bank

350. Company Liquidator to deposit monies into scheduled bank.— (1) Every Company Liquidator of a company shall, in such manner and at such times as may be prescribed, deposit the monies received by him in his capacity as such in a scheduled bank to the credit of a special bank account opened by him in

Company Liquidation Dividend and Undistributed Assets Account

352. Company Liquidation Dividend and Undistributed Assets Account.— (1) Where any company is being wound up and the liquidator has in his hands or under his control any money representing— (a) dividends payable to any creditor but which had remained unpaid for six months after the date on which they were declared; or (b) assets

Liquidator to make returns, etc

353. Liquidator to make returns, etc.— (1) If any Company Liquidator who has made any default in filing, delivering or making any return, account or other document, or in giving any notice which he is by law required to file, deliver, make or give, fails to make good the default within fourteen days after the

Certain transfers to be void

330. Certain transfers to be void.— Any transfer or assignment by a company of all its properties or assets to trustees for the benefit of all its creditors shall be void.

Liabilities and rights of certain persons fraudulently preferred

331. Liabilities and rights of certain persons fraudulently preferred.— (1) Where a company is being wound up and anything made, taken or done after the commencement of this Act is invalid under section 328 as a fraudulent preference of a person interested in property mortgaged or charged to secure the company‘s debt, then, without prejudice

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