Chapter XX — Winding up

270 Winding up by Tribunal 271 Circumstances in which company may be wound up by Tribunal 272 Petition for winding up 273 Powers of Tribunal 274 Directions for filing statement of affairs 275 Company Liquidators and their appointments 276 Removal and replacement of liquidator 277 Intimation to Company Liquidator, provisional liquidator and Registrar 278 Effect of winding up order 279 Stay of suits, etc., on winding up order 280 Jurisdiction of Tribunal 281 Submission of report by Company Liquidator 282 Directions of Tribunal on report of Company Liquidator 283 Custody of company's properties 284 Promoters, directors, etc., to cooperate with Company Liquidator 285 Settlement of list of contributories and application of assets 286 Obligations of directors and managers 287 Advisory committee 288 Submission of periodical reports to Tribunal 289 Power of Tribunal on application for stay of winding up Omitted 290 Powers and duties of Company Liquidator 291 Provision for professional assistance to Company Liquidator 292 Exercise and control of Company Liquidator's powers 293 Books to be kept by Company Liquidator 294 Audit of Company Liquidator's accounts 295 Payment of debts by contributory and extent of set-off 296 Power of Tribunal to make calls 297 Adjustment of rights of contributories 298 Power to order costs 299 Power to summon persons suspected of having property of company, etc. 300 Power to order examination of promoters, directors, etc. 301 Arrest of person trying to leave India or abscond 302 Dissolution of company by Tribunal 303 Appeals from orders made before commencement of Act 304 Circumstances in which company may be wound up voluntarily Omitted 305 Declaration of solvency in case of proposal to wind up voluntarily Omitted 306 Meeting of creditors Omitted 307 Publication of resolution to wind up voluntarily Omitted 308 Commencement of voluntary winding up Omitted 309 Effect of voluntary winding up Omitted 310 Appointment of Company Liquidator Omitted 311 Power to remove and fill vacancy of Company Liquidator Omitted 312 Notice of appointment of Company Liquidator to be given to Registrar Omitted 313 Cesser of Board's powers on appointment of Company Liquidator Omitted 314 Powers and duties of Company Liquidator in voluntary winding up Omitted 315 Appointment of committees Omitted 316 Company Liquidator to submit report on progress of winding up Omitted 317 Report of Company Liquidator to Tribunal for examination of persons Omitted 318 Final meeting and dissolution of company Omitted 319 Power of Company Liquidator to accept shares, etc., as consideration for sale of property of company Omitted 320 Distribution of property of company Omitted 321 Arrangement when binding on company and creditors Omitted 322 Power to apply to Tribunal to have questions determined, etc. Omitted 323 Costs of voluntary winding up Omitted 324 Debts of all descriptions to be admitted to proof 325 Application of insolvency rules in winding up of insolvent companies Omitted 326 Overriding preferential payments 327 Preferential payments 328 Fraudulent preference 329 Transfers not in good faith to be void 330 Certain transfers to be void 331 Liabilities and rights of certain persons fraudulently preferred 332 Effect of floating charge 333 Disclaimer of onerous property 334 Transfers, etc., after commencement of winding up to be void 335 Certain attachments, executions, etc., in winding up by Tribunal to be void 336 Offences by officers of companies in liquidation 337 Penalty for frauds by officers 338 Liability where proper accounts not kept 339 Liability for fraudulent conduct of business 340 Power of Tribunal to assess damages against delinquent directors, etc. 341 Liability under sections 339 and 340 to extend to partners or directors in firms or companies 342 Prosecution of delinquent officers and members of company 343 Company Liquidator to exercise certain powers subject to sanction 344 Statement that company is in liquidation 345 Books and papers of company to be evidence 346 Inspection of books and papers by creditors and contributories 347 Disposal of books and papers of company 348 Information as to pending liquidations 349 Official Liquidator to make payments into public account of India 350 Company Liquidator to deposit monies into scheduled bank 351 Liquidator not to deposit monies into private banking account 352 Company Liquidation Dividend and Undistributed Assets Account 353 Liquidator to make returns, etc. 354 Meetings to ascertain wishes of creditors or contributories 355 Court, tribunal or person, etc., before whom affidavit may be sworn 356 Powers of Tribunal to declare dissolution of company void 357 Commencement of winding up by Tribunal 358 Exclusion of certain time in computing period of limitation 359 Appointment of Official Liquidator 360 Powers and functions of Official Liquidator 361 Summary procedure for liquidation 362 Sale of assets and recovery of debts due to company 363 Settlement of claims of creditors by Official Liquidator 364 Appeal by creditor 365 Order of dissolution of company