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Statutory Provisions

Home Acts & Rules Bill Bills COMPANIES BILL, 2011 Chapters List Chapter XIX REVIVAL AND REHABILITATION OF SICK COMPANIES This

Clause 265 - Winding up of company on report of company administrator. - COMPANIES BILL, 2011

COMPANIES BILL, 2011
Chapter XIX
REVIVAL AND REHABILITATION OF SICK COMPANIES
  • Contents

Winding up of company on report of company administrator.

     265. (1) If the scheme is not approved by the creditors in the manner specified in sub-section (2) of section 262, the company administrator shall submit a report to the Tribunal within fifteen days and the Tribunal shall order for the winding up of the sick company.

     (2) On the passing of an order under sub-section (1), the Tribunal shall conduct the proceedings for winding up of the sick company in accordance with the provisions of Chapter XX.

 
 
 
 

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