Section - 348, Companies Act, 2013 Information as to pending liquidations. 348. [(1) If the winding up of a company is not concluded within one year after its commencement, the Company Liquidator shall, unless he is exempted from so doing, either wholly or in part by the Central Government, within two months of the expiry of…...
Disposal of books and papers of company. Section – 347, Companies Act, 2013
Section - 347, Companies Act, 2013 Disposal of books and papers of company. 347. [(1) When the affairs of a company have been completely wound up and it is about to be dissolved, the books and papers of such company and those of the Company Liquidator may be disposed of in such manner as the Tribunal…...
Inspection of books and papers by creditors and contributories. Section – 346, Companies Act, 2013
Section - 346, Companies Act, 2013 Inspection of books and papers by creditors and contributories. 346. (1) At any time after the making of an order for the winding up of a company by the Tribunal, any creditor or contributory of the company may inspect the books and papers of the company only in accordance with,…...
Books and papers of company to be evidence. Section – 345, Companies Act, 2013
Section - 345, Companies Act, 2013 Books and papers of company to be evidence. 345. 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 primafacie evidence of the truth of all matters purporting to be recorded therein...
Statement that company is in liquidation. Section – 344, Companies Act, 2013
Section - 344, Companies Act, 2013 Statement that company is in liquidation. 344. (1) Where a company is being wound up, whether by the Tribunal or voluntarily, every invoice, order for goods or business letter issued by or on behalf of the company or a Company Liquidator of the company, or a receiver or manager of…...
Company Liquidator to exercise certain powers subject to sanction . Section – 343, Companies Act, 2013
Section - 343, Companies Act, 2013 Company Liquidator to exercise certain powers subject to sanction . 343. [ (1) The Company Liquidator may, with the sanction of the Tribunal, when the company is being wound up by the Tribunal,— (i) pay any class of creditors in full; (ii) make any compromise or arrangement with creditors or persons claiming…...
Prosecution of delinquent officers and members of company. Section – 342, Companies Act, 2013
Section - 342, Companies Act, 2013 Prosecution of delinquent officers and members of company. 342. (1) If it appears to the Tribunal in the course of a winding up by the Tribunal, that any person, who is or has been an officer, or any member, of the company has been guilty of any offence in relation…...
Liability under and to extend to partners or directors in firms or companies. Section – 341, Companies Act, 2013
Section - 341, Companies Act, 2013 Liability under and to extend to partners or directors in firms or companies. 341 .Where a declaration under or an order under is made in respect of a firm or body corporate, the Tribunal shall also have power to make a declaration under , or pass an order under…...
Power of Tribunal to assess damages against delinquent directors, etc. Section – 340, Companies Act, 2013
Section - 340, Companies Act, 2013 Power of Tribunal to assess damages against delinquent directors, etc. 340.(1) If in the course of winding up of a company, it appears that any person who has taken part in the promotion or formation of the company, or any person, who is or has been a director, manager,…...
Liability for fraudulent conduct of business. Section – 339, Companies Act, 2013
Section - 339, Companies Act, 2013 Liability for fraudulent conduct of business. 339. (1) If in the course of the winding up of a company, it appears that any business of the company has been carried on with intent to defraud creditors of the company or any other persons or for any fraudulent purpose, the Tribunal,…...