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Companies Law
Home Acts & Rules Companies Law Rules Companies (Winding Up) Rules, 2020 Chapters List This

Companies (Winding Up) Rules, 2020

Part: I
GENERAL
Rule 1 : Short title, commencement and application
Rule 2 : Definitions
Part: II
WINDING UP BY TRIBUNAL
Rule 3 : Petition for winding up
Rule 4 : Statement of affairs
Rule 5 : Admission of petition and directions as to advertisement
Rule 6 : Copy of petition to be furnished
Rule 7 : Advertisement of petition
Rule 8 : Application for leave to withdraw petition
Rule 9 : Substitution for original petitioner
Rule 10 : Procedure on substitution
Rule 11 : Affidavit-in-objection
Rule 12 : Affidavit in reply
LIQUIDATOR
Rule 13 : Applicability
Rule 14 : Appointment of provisional liquidator or Company Liquidator
Rule 15 : Rules applicable to provisional liquidator
Rule 16 : Costs, etc., of provisional liquidator
WINDING UP ORDER
Rule 17 : Order to be sent to liquidator and form of order
Rule 18 : Contents of winding up order
Rule 19 : Directions on making winding up order
Rule 20 : Advertisement of order
Rule 21 : Declaration by Company Liquidator
Rule 22 : Company Liquidator to take charge of assets and books and papers of company
Rule 23 : Form of proceedings after winding up order is made
APPLICATION FOR STAY OF SUITS ETC. ON WINDING UP ORDER
Rule 24 : Application for leave to commence or continue suit or proceeding
REPORTS BY COMPANY LIQUIDATOR UNDER SECTION 281
Rule 25 : Report by Company Liquidator
Rule 26 : Inspection of statement of affairs and report
Rule 27 : Consideration of report by Tribunal
SETTLEMENT OF LIST OF CONTRIBUTORIES
Rule 28 : Provisional list of contributories
Rule 29 : Notice to be given of date of settlement
Rule 30 : Settlement of list
Rule 31 : Notice of settlement to contributories
Rule 32 : Supplemental list of contributories
Rule 33 : Variation of list
Rule 34 : Application for rectification of list
Rule 35 : List of contributories consisting of past members
ADVISORY COMMITTEE
Rule 36 : Meeting of creditors and contributories
Rule 37 : Company Liquidator to report result of meeting
Rule 38 : Filling –up of vacancy in advisory committee
Rule 39 : Company Liquidator and members of advisory committee dealing with company's assets
Rule 40 : Advisory committee not to make profit
Rule 41 : Cost of obtaining order of Tribunal
Rule 42 : Order sanctioning payment to advisory committee
Rule 43 : Meetings of advisory committee
MEETINGS OF CREDITORS AND CONTRIBUTORIES
Rule 44 : Application of rules to meetings
Rule 45 : Notice of meeting
Rule 46 : Place and time of meeting
Rule 47 : Notice of first or other meeting to officers of company
Rule 48 : Proof of notice
Rule 49 : Costs of meeting
Rule 50 : Chairman of meeting
Rule 51 : Resolution at creditors' meeting
Rule 52 : Resolution of contributories' meeting
Rule 53 : Copies of resolution to be filed
Rule 54 : Non-receipt of notice by creditor or contributory
Rule 55 : Adjournments
Rule 56 : Quorum
Rule 57 : Procedure in absence of quorum
Rule 58 : When creditor can vote
Rule 59 : Case in which creditors may not vote
Rule 60 : When secured creditor can vote
Rule 61 : Effect of voting by a secured creditor
Rule 62 : Procedure when secured creditor votes without surrendering security
Rule 63 : Admission or rejection of proof for purposes of voting
Rule 64 : Minutes of proceedings
Rule 65 : Report to Tribunal
PROXIES IN RELATION TO MEETINGS OF CREDITORS AND CONTRIBUTORIES
Rule 66 : Voting by proxies
Rule 67 : Form of proxies
Rule 68 : Proxies to Company Liquidator or chairman of meeting
Rule 69 : Use of proxies by deputy
Rule 70 : Forms to be sent with notice
Rule 71 : Proxies to be lodged
Rule 72 : Holder of proxy not to vote on matter in which he is financially interested
Rule 73 : Minor not to be appointed proxy
Rule 74 : Filling in proxy where creditor or contributory is blind or incapable
Rule 75 : Proxy of person not acquainted with English
Rule 76 : Submission of periodical reports to the tribunal
Rule 77 : Employment of additional or special staff by Official Liquidator
Rule 78 : Declaration by professional
REGISTERS AND BOOKS OF ACCOUNT TO BE MAINTAINED BY COMPANY LIQUIDATOR
Rule 79 : Record book to be maintained by Company Liquidator
Rule 80 : Registers and books to be maintained by Company Liquidator
BANKING ACCOUNT OF COMPANY LIQUIDATOR
Rule 81 : All money to be paid into special bank account in a scheduled bank
Rule 82 : Bills, cheques, etc. to be deposited with bank
Rule 83 : Payments into Bank
Rule 84 : Company Liquidator's Dividend Account
Rule 85 : Where the company has no available assets
INVESTMENT OF SURPLUS FUNDS
Rule 86 : Investment of surplus funds
Rule 87 : Company Liquidator to examine accounts for purposes of investment
Rule 88 : Investments to be made by Bank
Rule 89 : Dividend and interest to be credited
Rule 90 : Refunds of taxes
FILING AND AUDIT OF COMPANY LIQUIDATOR'S ACCOUNT
Rule 91 : Half-yearly accounts to be filed
Rule 92 : Form of account
Rule 93 : Nil account
Rule 94 : Registry to send copy of account to auditor
Rule 95 : Audit of Company Liquidator's accounts
Rule 96 : Audit certificate to be filed
Rule 97 : Audit fees
Rule 98 : Inspection of account and certificate of audit
Rule 99 : Account and auditor's report to be placed before Tribunal
Part: III
WINDING UP BY TRIBUNAL (OTHER THAN SUMMARY WINDING UP)
DEBTS AND CLAIMS AGAINST COMPANY
Rule 100 : Notice for proving debts
Rule 101 : Proof of debt
Rule 102 : Mode of proof and verification thereof
Rule 103 : Contents of proof
Rule 104 : Workmen's dues
Rule 105 : Production of bills of exchange and promissory notes
Rule 106 : Value of debts
Rule 107 : Discount
Rule 108 : Interest
Rule 109 : Periodical payments
Rule 110 : Proof of debt payable at future time
Rule 111 : Examination of proof
Rule 112 : Company Liquidator's right to call any person in connection with investigation
Rule 113 : Affidavit
Rule 114 : Costs of proof
Rule 115 : Acceptance or rejection of proof to be communicated
Rule 116 : Appeal by creditor
Rule 117 : Procedure where creditor appeals
Rule 118 : Company Liquidator not to be personally liable for costs
Rule 119 : Proofs and list of creditors to be filed in Tribunal
Rule 120 : List of creditors not to be varied
Rule 121 : Notice of filing list and inspection of same
Rule 122 : Expunging of proof
Rule 123 : Procedure on failure to prove debt within time fixed
Rule 124 : Right of creditor who has not proved debt before declaration of dividend
Rule 125 : Payment of subsequent interest
ATTENDANCE AND APPEARANCE OF CREDITORS AND CONTRIBUTORIES
Rule 126 : Attendance at proceedings
Rule 127 : Representation of creditors and contributories before Tribunal
COLLECTION AND DISTRIBUTION OF ASSETS IN WINDING UP BY TRIBUNAL
Rule 128 : Powers of Company Liquidator
Rule 129 : Company Liquidator to be in position of receiver
Rule 130 : Company’s property to be surrendered to Company Liquidator on requisition
CALLS IN WINDING UP BY TRIBUNAL
Rule 131 : Calls by Company Liquidator
Rule 132 : Company Liquidator to realise uncalled capital
Rule 133 : Application for leave to make call
Rule 134 : Notice of application
Rule 135 : Order granting leave to make call and document making call
Rule 136 : Service of notice of call
Rule 137 : Order for payment of call
Rule 138 : Other moneys due by contributories
EXAMINATION UNDER SECTIONS 299 AND 300
Rule 139 : Application for examination under section 299
Rule 140 : Directions at hearing of application
Rule 141 : Service of summons
Rule 142 : Conduct of examination
Rule 143 : Notes of deposition
Rule 144 : Order for examination under section 300
Rule 145 : Notice of examination
Rule 146 : Adjournment of examination for orders of Tribunal
Rule 147 : Procedure for contumacy
Rule 148 : Notes of examination
Rule 149 : Application under sub-section (5) of section 300
Rule 150 : Warrant of arrest of contributory
Rule 151 : Prison to which contributory arrested on warrant is to be taken
Rule 152 : Execution of warrant of arrest outside jurisdiction of Tribunal
APPLICATION AGAINST DELINQUENT DIRECTORS, PROMOTERS AND OFFICERS OF THE COMPANY
Rule 153 : Application under section 339 or section 340
Rule 154 : Directions at preliminary hearing of summons
Rule 155 : Liberty to apply for further directions
DISCLAIMER
Rule 156 : Application for disclaimer
Rule 157 : Preliminary hearing of application
Rule 158 : Claimant to furnish statement of his interest
Rule 159 : Service of notice
Rule 160 : Order granting leave to disclaim
Rule 161 : Disclaimer to be filed in Tribunal
Rule 162 : Vesting of disclaimed property
COMPROMISE OR ABANDONMENT OF CLAIMS
Rule 163 : No claim to be compromised or abandoned without sanction of Tribunal
Rule 164 : Application for sanction of compromise
SALE BY COMPANY LIQUIDATOR
Rule 165 : Sale to be subject to sanction and to confirmation by Tribunal
Rule 166 : Procedure at sale
Rule 167 : Expenses of sale
DIVIDENDS AND RETURNS OF CAPITAL IN WINDING UP BY TRIBUNAL
Rule 168 : Declaration of dividend or return of capital
Rule 169 : Notice of declaration
Rule 170 : Form of authority to pay dividend
Rule 171 : Transmission of dividends, etc. by post
Rule 172 : Form of order directing return of capital
Rule 173 : Payment of dividend or return of capital due to deceased creditor or contributory
TERMINATION OF WINDING UP
Rule 174 : Company Liquidator to apply for dissolution
Rule 175 : Dissolution of company
Rule 176 : Liquidator to pay the balance into Company Liquidation Dividend and Undistributed Assets Account
Rule 177 : Conclusion of winding up
Rule 178 : Application to declare dissolution void
PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY
LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP
Rule 179 : Statement to accompany payment
Rule 180 : Unclaimed dividends or undistributed assets under investment
Rule 181 : Application by person for payment of money paid into the Company Liquidation Dividend and Undistributed Assets Account
Rule 182 : Cost and expenses payable out of the assets in a winding up by Tribunal
Part: IV
COSTS, ETC.
Rule 183 : Costs in the discretion of Tribunal
Rule 184 : Bill of costs by authorised representative, etc. employed by Company Liquidator
Rule 185 : Fees in misfeasance proceeding
Rule 186 : Fees when proceeding is compromised
Rule 187 : Costs of parties having common interest
Rule 188 : Tribunal's power to fix a fee
Rule 189 : Allowance to witnesses
Part: V
SUMMARY PROCEDURE FOR LIQUIDATION
Rule 190 : Powers and functions of Official Liquidator
Part: VI
MISCELLANEOUS
Rule 191 : Inspection of file
 
 
 
 

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