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Statutory Provisions

Home Acts & Rules Bill Bills COMPANIES BILL, 2011 Chapters List Chapter XX - Part III Provisions applicable to every mode of winding up This

Clause 334 - Transfers, etc., after commencement of winding up to be void. - COMPANIES BILL, 2011

COMPANIES BILL, 2011
Chapter XX - Part III
Provisions applicable to every mode of winding up
  • Contents

Transfers, etc., after commencement of winding up to be void.

     334. (1) In the case of a voluntary winding up, any transfer of shares in the company, not being a transfer made to or with the sanction of the Company Liquidator, and any alteration in the status of the members of the company, made after the commencement of the winding up, shall be void.

      (2) In the case of a winding up by the Tribunal, any disposition of the property, including actionable claims, of the company, and any transfer of shares in the company or alteration in the status of its members, made after the commencement of the winding up, shall, unless the Tribunal otherwise orders, be void.

 
 
 
 

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