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(Companies) Ordinance, 1984

Topic Serial # Content Case Law
 

PART--X

 
 

PREVENTION OF OPPRESSION AND MISMANAGEMENT

 
290 Application to Court Case Law
291 Powers of Court under section 290
292 Interim order Case Law
293 Claim for damages inadmissible
294 Application of certain sections to proceedings under this Part
295 Management by Administrator
296 Rehabilitation of companies owning sick industrial units Case Law
 

PART--XI

 
 

WINDING UP

 
 

PRELIMINARY

 
297 Modes of winding up Case Law
298 Liability as contributories of present and past members
299 Liability of directors whose liability is unlimited
300 Definition of “contributory”
301 Nature of liability of contributor
302 Contributories in case of death of member
303 Contributory in case of insolvency of member
304 Contributories in case of winding up of a body corporate which is a member
305 Circumstances in which company may be wound up by Court Case Law
306 Company when deemed unable to pay its debts Case Law
307 Transfer of proceedings to other Courts
308 Withdrawal and transfer of winding up from one Court to another
309 Provisions as to applications for winding up Case Law
310 Right to present winding up petition where company is being wound up voluntarily or subject to Court’s supervision
311 Commencement of winding up by Court
312 Hearing of winding up petition by the Court
313 Court may grant injunction
314 Powers of Court on hearing petition Case Law
315 Copy of winding up order to be filed with registrar
316 Suits stayed on winding up order Case Law
317 Court may require expeditious disposal of suits, etc
318 Effect of winding up order
319 Power of Court to stay winding up, etc
320 Court to have regard to wishes of creditors or contributories
321 Appointment of official liquidator
322 Resignation, removal, filling up vacancies, etc., of official liquidator
323 Remuneration of official liquidator
324 Style of official liquidator
325 Appointment and powers of provisional manager Case Law
326 General provisions as to liquidators
327 Receiver not to be appointed of assets with liquidator
328 Statement of affairs to be made to official liquidator
329 Report by official liquidator
330 Custody of company’s property
331 Committee of inspection in compulsory winding up
332 Constitution and proceedings of committee of inspection
333 Powers of official liquidator Case Law
334 Discretion of official liquidator
335 Provision for assistance to official liquidator
336 Liquidator to keep books containing proceedings of meetings, etc
337 Liquidator’s account
338 Exercise and control of liquidator’s powers
339 Settlement of list of contributories and application of assets
340 Power to require delivery of property
341 Power to order payment of debts by contributory
342 Power of Court to make calls
343 Power to order payment into bank
344 Regulation of account with Court
345 Order on contributory conclusive evidence
346 Power to exclude creditors not proving in time
347 Adjustment of rights of contributories
348 Power to order costs
349 Distribution by official liquidator
350 Dissolution of company
351 Power to summon persons suspected of having property of company
352 Powers to order public examination of promoters, directors, etc
353 Power to arrest absconding contributory
354 Saving of other proceedings
355 Power to enforce orders
356 Order made by any Court to be enforced by other Courts
357 Mode of dealing with orders to be enforced by other Courts Case Law
 

PART--XI

 
 

WINDING UP VOLUNTARY WINDING UP RESOLUTION FOR, AND COMMENCEMENT OF VOLUNTARY WINDING UP

 
358 Circumstances in which company may be wound up voluntarily
359 Commencement of voluntary winding up
360 Effect of voluntary winding up on status of company
361 Notice of resolution to wind up voluntarily
362 Declaration of solvency in case of proposal to wind up voluntarily
363 Provisions Applicable to members” voluntary winding up
364 Appointment of liquidators
365 Power to fill vacancy in office of liquidator
366 Notice of appointment of liquidator to be given to registrar alongwith his consent
367 Power of liquidator to accept shares, etc., as consideration for sale of property of company
368 Duty of liquidator to call creditors” meeting in case of insolvency
369 Duty of liquidator to call general meeting at the end of each year
370 Final meeting and dissolution
371 Alternative provisions as to annual and final meetings in case of insolvency
372 Provisions applicable to creditors” voluntary winding up Case Law
373 Meeting of creditors
374 Notice of resolution passed by creditors” meeting to be given to registrar
375 Appointment of liquidator
376 Appointment of committee of inspection
377 Fixing of liquidator”s remuneration
378 Directors” powers to cease on appointment of liquidators
379 Power to fill vacancy in office of liquidator
380 Application of section, 367 to a creditors” voluntary winding up
381 Duty of liquidator to call meetings of company and of creditors at the end of every year
382 Final meeting and dissolution
383 Provisions applicable to every voluntary winding up
384 Accounts and statements to be audited
385 Distribution of property of company
386 Application of section 328 and 329 to voluntary winding up
387 Powers and duties of liquidator in voluntary winding up Case Law
388 Power of Court to appoint and remove liquidator in voluntary winding-up
389 Notice by liquidator of his appointment
390 Arrangement when binding on company and creditors
391 Power to apply to Court to have questions determined or powers exercised
392 Application of liquidator to Court for public examination of promoters, directors, etc
393 Costs of voluntary Winding up
394 Saving for right of creditors and contributories
395 Power of Court to adopt proceedings of voluntary winding up
396 Power to order winding up subject to supervision
397 Effect of petition for winding up subject to supervision
398 Court may have regard to wishes of creditors and contributories
399 Power to replace liquidator
400 Effects of supervision order
401 Appointment of voluntary liquidator as official liquidator in certain cases
 

PART--XI

 
 

WINDING UPPROVISIONS APPLICABLE TO EVERY MODE OF WINDING UP STATUS OF COMPANIES BEING WOUND UP

 
402 Status of companies being wound up, etc Case Law
403 Debts of all description to be proved
404 Application of insolvency rules in winding up of insolvent companies
405 Preferential payments Case Law
406 Avoidance of transfers, etc
407 Disclaimer of property
408 Fraudulent preference
409 Liabilities and rights of certain fraudulently preferred persons
410 Avoidance of certain attachments, executions, etc
411 Effect of floating charge Case Law
412 Power of Court to assess damages against delinquent directors, etc
413 Liability for fraudulent conduct of business Case Law
414 Liability under sections 412 and 413 to extend to partners or directors in firm or body corporate
415 Penalty for fraud by officers of companies which have gone into liquidation
416 Liability where proper accounts not kept
417 Penalty for falsification of books
418 Prosecution of delinquent directors
419 Penalty for false evidence
420 Penal Provisions
421 Liquidator to exercise certain powers subject to sanction
422 Meetings to ascertain wishes of creditors or contributories
423 Documents of company to be evidence
424 Summary disposal of certain suits by liquidators
425 Limitation
426 Court-fees
427 Inspection of documents
428 Disposal of books and papers of company
429 Power of Court to declare dissolution of company void
430 Information as to pending liquidation
431 Payments by liquidator into bank
432 Unclaimed dividends and undistributed assets to be paid to Companies Liquidation Account
433 Books of accounts and other proceedings to be kept by liquidators
434 Application of provisions relating to audit
435 Enforcement of duty of liquidator to make return, etc
436 Notification that a company is in liquidation
437 Court or person before whom affidavit may be sworn
438 Power to make rules
439 Registrar may strike defunct company off register
 

PART--XII

 
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