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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 357 - Commencement of winding up by Tribunal. - COMPANIES BILL, 2011

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

Commencement of winding up by Tribunal.

     357. (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 of the resolution, and unless the Tribunal, on proof of fraud or mistake, thinks fit to direct otherwise, all proceedings taken in the voluntary winding up shall be deemed to have been validly taken.

      (2) In any other case, the winding up of a company by the Tribunal shall be deemed to commence at the time of the presentation of the petition for the winding up.

 
 
 
 

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