Section 296 of Companies Act, 2013 – Power of Tribunal to make calls

  • Updated Till : November 11, 2018

SECTION 296. POWER OF TRIBUNAL TO MAKE CALLS

[Effective from 15th December, 2016]

The Tribunal may, at any time after the passing of a winding up order, and either before or after it has ascertained the sufficiency of the assets of the company,—

(a)   make calls on all or any of the contributories for the time being on the list of the contributories, to the extent of their liability, for payment of any money which the Tribunal considers necessary to satisfy the debts and liabilities of the company, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves; and

(b)   make an order for payment of any calls so made.

 

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