The Companies Act 2013
–
CHAPTER
XX
WINDING
UP
270. (1)
The winding up of a company may be either—
(a)
by the Tribunal; or
(b)
voluntary.
(2)
Notwithstanding anything contained in any other Act, the provisions of this Act
with respect to winding up shall apply to the winding up of a company in any of
the modes specified under sub-section (1).
PART I.—Winding
up by the Tribunal
275. (1)
For the purposes of winding up of a company by the Tribunal, the Tribunal at
the time of the passing of the order of winding up, shall appoint an Official
Liquidator or a liquidator from the panel maintained under
sub-section (2)
as the Company Liquidator.
(2)
The provisional liquidator or the Company Liquidator, as the case may be, shall
be appointed from a panel maintained by the Central Government consisting of
the names of chartered accountants, advocates, company secretaries, cost
accountants or firms or bodies corporate having such chartered accountants,
advocates, company secretaries, cost accountants and such other professionals
as may be notified by the Central Government or from a firm or a body corporate
of persons having a combination of such professionals as may be prescribed and
having at least ten years’ experience in company matters.
291. (1)
The Company Liquidator may, with the sanction of the Tribunal, appoint one or
more chartered accountants or company secretaries or cost accountants or
legal practitioners or such other professionals on such terms and conditions,
as may be necessary, to assist him in the performance of his duties and
functions under this Act.
(2)
Any person appointed under this section shall disclose forthwith to the
Tribunal in the prescribed form any conflict of interest or lack of
independence in respect of his appointment.
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 by any person in the
promotion, formation, business or conduct of affairs of the company
since its formation, the Tribunal may, after considering the report, direct
that such person or officer shall attend before the Tribunal on a day appointed
by it for that purpose, and be examined as to the promotion or formation or the
conduct of the business of the company or as to his conduct and dealings as an
officer thereof.
(2)
The Company Liquidator shall take part in the examination, and for that purpose
he or it may, if specially authorised by the Tribunal in that behalf, employ
such legal assistance as may be sanctioned by the Tribunal.
(3)
The person shall be examined on oath and shall answer all such questions as the
Tribunal may put, or allow to be put, to him.
(4)
A person ordered to be examined under this section—
(a)
shall, before his examination, be furnished at his own cost with a copy of the
report of the Company Liquidator; and
(b)
may at his own cost employ chartered accountants or company secretaries or cost
accountants or legal practitioners entitled to appear before the Tribunal
under section 432, who shall be at liberty to put to him such questions as the
Tribunal may consider just for the purpose of enabling him to explain or
qualify any answers given by him.
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