The Companies Act

Debts of all descriptions to be admitted to proo

Application of insolvency rules in winding up of insolvent companies

Overriding preferential payments

Preferential payments

Fraudulent preferenc

Transfers not in good faith to be voi

Certain transfers to be void

Liabilities and rights of certain persons fraudulently preferred

Effect of floating charge

Disclaimer of onerous property

Transfers, etc., after commencement of winding up to be void

Certain attachments, executions, etc., in winding up by Tribunal to be voi

Offences by officers of companies in liquidation

Penalty for frauds by officers

Liability where proper accounts not kep

Liability for fraudulent conduct of busines

Power of Tribunal to assess damages against delinquent directors, et

Liability under sections 339 and 340 to extend to partners or directors in firms or companie

Prosecution of delinquent officers and members of company

Company Liquidator to exercise certain powers subject to sanction

Statement that company is in liquidation

Books and papers of company to be evidence

Inspection of books and papers by creditors and contributories

Disposal of books and papers of compan

Information as to pending liquidations

Official Liquidator to make payments into public account of India

Company Liquidator to deposit monies into scheduled ban

Liquidator not to deposit monies into private banking account

Company Liquidation Dividend and Undistributed Assets Accoun

Liquidator to make returns, etc

Meetings to ascertain wishes of creditors or contributorie

Court, tribunal or person, etc., before whom affidavit may be sworn

Power of Tribunal to declare dissolution of company void

Commencement of winding up by Tribunal

Exclusion of certain time in computing period of limitation


PART III.--Provisions applicable to every mode of winding up


Notwithstanding anything in
the Limitation Act, 1963 (36 of 1963), or in any other law for the time being in force, in computing the
period of limitation specified for any suit or application in the name and on behalf of a company which is
being wound up by the Tribunal, the period from the date of commencement of the winding up of the
company to a period of one year immediately following the date of the winding up order shall be
excluded.



LAWGIST

# 358 Exclusion of certain time in computing period of limitation