Section - 328, Companies Act, 2013 Fraudulent preference. 328.(1) Where a company has given preference to a person who is one of the creditors of the company or a surety or guarantor for any of the debts or other liabilities of the company, and the company does anything or suffers anything done which has the…...
Preferential payments. Section – 327, Companies Act, 2013
Section - 327, Companies Act, 2013 Preferential payments. 327.(1) In a winding up, subject to the provisions of , there shall be paid in priority to all other debts,— (a) all revenues, taxes, cesses and rates due from the company to the Central Government or a State Government or to a local authority at the relevant…...
[ Overriding preferential payments. Section – 326, Companies Act, 2013
Section - 326, Companies Act, 2013 [ Overriding preferential payments. 326. (1) In the winding up of a company under this Act, the following debts shall be paid in priority to all other debts: (a) workmen's dues; and (b) where a secured creditor has realised a secured asset, so much of the debts due to such secured…...
Debts of all descriptions to be admitted to proof. Section – 324, Companies Act, 2013
Section - 324, Companies Act, 2013 PART III PROVISIONS APPLICABLE TO EVERY MODE OF WINDING UP Debts of all descriptions to be admitted to proof. 324. In every winding up (subject, in the case of insolvent companies, to the application in accordance with the provisions of this Act or of the law of insolvency), all debts…...
Appeals from orders made before commencement of Act. Section – 303, Companies Act, 2013
Section - 303, Companies Act, 2013 Appeals from orders made before commencement of Act. 303. Nothing in this Chapter shall affect the operation or enforcement of any order made by any Court in any proceedings for the winding up of a company immediately before the commencement of this Act and an appeal against such order shall be…...
Arrest of person trying to leave India or abscond. Section – 301, Companies Act, 2013
Section - 301, Companies Act, 2013 Arrest of person trying to leave India or abscond. 301. At any time either before or after passing a winding up order, if the Tribunal is satisfied that a contributory or a person having property, accounts or papers of the company in his possession is about to leave India or…...
Power to order examination of promoters, directors, etc. Section – 300, Companies Act, 2013
Section - 300, Companies Act, 2013 Power to order examination of promoters, directors, etc. 300. (1) Where an order has been made for the winding up of a company by the Tribunal, and the Company Liquidator has made a report to the Tribunal under this Act, stating that in his opinion a fraud has been committed…...
Power to summon persons suspected of having property of company, etc. Section – 299, Companies Act, 2013
Section - 299, Companies Act, 2013 Power to summon persons suspected of having property of company, etc. 299. (1) The Tribunal may, at any time after the appointment of a provisional liquidator or the passing of a winding up order, summon before it any officer of the company or person known or suspected to have in…...
Power to order costs. Section – 298, Companies Act, 2013
Section - 298, Companies Act, 2013 Power to order costs. 298. The Tribunal may, in the event of the assets of a company being insufficient to satisfy its liabilities, make an order for the payment out of the assets, of the costs, charges and expenses incurred in the winding up, in such order of priority inter se as the…...
Adjustment of rights of contributories. Section – 297, Companies Act, 2013, Power to order costs. Section – 298, Companies Act, 2013
Section - 297, Companies Act, 2013 Adjustment of rights of contributories. 297. The Tribunal shall adjust the rights of the contributories among them- selves and distribute any surplus among the persons entitled thereto. Section - 298, Companies Act, 2013 Power to order costs. 298. The Tribunal may, in the event of the assets of a company…...