Powers of Tribunal (1) The Tribunal may, on receipt of a petition for winding up under section 272 pass any of the following orders, namely:— (a) dismiss it, with or without costs; (b) make any interim order as it thinks fit; (c) appoint a provisional liquidator of the company till the making of a winding up order; (d) make an order […]

Petition for Winding Up (1) Subject to the provisions of this section, a petition to the Tribunal for the winding up of a company shall be presented by— (a) the company; (b) any contributory or contributories; (c) all or any of the persons specified in clauses (a) and (b); (d) the Registrar; (e) any person authorised by the Central Government in that

Circumstances in Which Company May be Wound Up by Tribunal  “ A company may, on a petition under section 272, be wound up by the Tribunal,— (a) if the company has, by special resolution, resolved that the company be wound up by the Tribunal; (b) if the company has acted against the interests of the sovereignty and integrity of India, the security of the

Modes of Winding Up The provisions of Part I shall apply to the winding up of a company by the Tribunal under this Act.”.] Amendment (a) Substituted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016. For section 270 , (1) The winding up of a company may be either — (a) by the Tribunal; or (b) voluntary. (2) Notwithstanding anything

Rehabilitation and Insolvency Fund [Omitted] Amendment 1 (a) Omitted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016. (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 269. Rehabilitation and Insolvency Fund (1) There shall be formed a Fund to be called

Bar of Jurisdiction [Omitted] Amendment 1 (a) Omitted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016. (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 268. Bar of Jurisdiction No appeal shall lie in any court or other authority and no

Punishment for Certain Offences Omitted] Amendment 1 (a) Omitted by vide MCA Notification number F.O. 3453(E) Dated 15th November, 2016 (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 267. Punishment for Certain Offences Whoever violates the provisions of this Chapter or any scheme, or any

Power of Tribunal to Assess Damages Against Delinquent Directors, etc Omitted] Amendment 1 (a) Omitted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016. (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 266. Power of Tribunal to Assess Damages Against Delinquent Directors,

Winding Up of Company on Report of Company Administrator Omitted] Amendment 1 (a) Omitted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016. (b)The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 265. Winding Up of Company on Report of Company Administrator

Implementation of Scheme Omitted] Amendment (a)Omitted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016 (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Implementation of Scheme (1) The Tribunal shall, for the purpose of effective implementation of the scheme, have power to