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Equalisation_Levy_Act_2016

Section / Rule Number Content


433 Circumstances in which company may be wound up by Tribunal
434 Company when deemed unable to pay its debts
435 Transfer of winding up proceedings to District Court
436 Withdrawal and transfer of winding up from one District Court to another
437 Power of High Court to retain winding up proceedings in District Court
438 Jurisdiction of High Court under sections 435, 436 and 437 to be exercised at any time and at any stage
439 Provisions as to applications for winding up
440 Right to present winding up petition where company is being wound-up voluntarily
441 Commencement of winding up by Court
442 Power of Court to stay or restrain proceedings against company
443 Powers of Court on hearing petition
444 Order for winding up to be communicated to Official Liquidator and Registrar
445 Copy of winding up order to be filed with Registrar
446 Suits stayed on winding up order
446A Responsibility of directors and officers to submit to Tribunal audited books and accounts
447 Effect of winding up order
448 Appointment of Official Liquidator
449 Official Liquidator to be liquidator
450 Appointment and powers of provisional liquidator
451 General provisions as to liquidators
452 Style, etc., of liquidator
453 Receiver not to be appointed of assets with liquidator
454 Statement of affairs to be made to Official Liquidator
455 Report by Official Liquidator
456 Custody of company's property
457 Powers of liquidator
458 Discretion of liquidator
458A Exclusion of certain time in computing periods of limitation
459 Provision for legal assistance to liquidator
460 Exercise and control of liquidator's powers
461 Books to be kept by liquidator
462 Audit of liquidator's accounts
463 Control of Central Government over liquidators
464 Appointment and composition of committee of inspection
465 Constitution and proceedings of committee of inspection
466 Power of Court to stay winding up
467 Settlement of list of contributories and application of assets
468 Delivery of property to liquidator
469 Payment of debts due by contributory and extent of set-off
470 Power of Court to make calls
471 Payment into bank of moneys due to company
472 Moneys and securities paid into Bank to be subject to order of Court
473 Order on contributory to be conclusive evidenced
474 Power to exclude creditors not proving in time
475 Adjustment of rights of contributories
476 Power to order costs
477 Power to summon persons suspected of having property of company etc
478 Power to order public examination of promoters, directors, etc.
479 Power to arrest absconding contributory
480 Saving of existing powers of court
481 Dissolution of company
482 Order made in any court to be enforced by other courts
483 Appeals from orders
441A Levy and collection of cess on turnover or gross receipts of companies
441B Crediting proceeds of cess to consolidated fund of india
441C Rehabilitation fund
441D Application of fund
441E Power to call for information
441F Penalty for non-payment of cess
441G Refund of fund in certain cases
439A Statement of affairs to be filed on winding up of a company

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