Company Law - 105. page

Modes of winding-up: Part VII of the Act deals with the winding-up of a company. Under Section 425, a company may be winding-up either: (i) by a Court (compulsory winding-up) or (ii) […]

Implications of Winding-up : Winding- up more popularly known as liquidation of a company, relate to the proceedings by which (a) all its affairs are wound up, (b) its rights and liabilities […]

Distinction between winding-up and dissolution: These two situations differ from each other in following respects: (i) Winding- up precedes dissolution. In the former case, the company still remains in existence, while the […]

How dissolution is brought about: A company, being a body corporate, continues in existence until it is dissolved according to law. Dissolution can be brought about in the following ways. a. By […]

Introduction on Winding Up : Clarification on Companies (Second Amendment) Act, 2002 [Notification issued by Ministry of Finance and Company Affairs (Department of Company Affairs) vide F. No. 1/1/2003-CL.V dated 9.9.2003]. The […]

Penalty for Certain Offences (Section 424L) : (1) Whoever violates provisions of this Part or any scheme, or any order, of the Tribunal or the Appellate Tribunal or makes a false […]

Misfeasance Proceedings Section (424K) : (1) If, in the course of scrutiny or implementation of any scheme or proposal, it appears to the Tribunal that any person who has taken part […]

Power of Tribunal to Call for Periodic Information (Section 424J) : On receipt of reference under section 424A, the Tribunal may call for any periodic information from the company as to […]

Direction not to Dispose of Assets (Section 424I) : The Tribunal may, if it is of opinion, that any direction is necessary in the interest of the sick industrial company or […]

Operating Agency to Prepare Complete Inventory, etc. (Section 424H) : For the proper discharge of the functions of the Tribunal under this Part, the circumstances so require, the Tribunal may, through any […]