Section 270 of Companies Act, 2013 – Modes of winding up

SECTION 270. MODES OF WINDING UP

[Effective from 15th December, 2016]

[1] [The provisions of Part I shall apply to the winding up of a company by the Tribunal under this Act.]

Applicable Rules

Companies (Winding Up) Rules, 2020

[Effective from 1st April, 2020]

PART 1 GENERAL

Rule 2. Definitions

Rule 2. Definitions.—In these rules, unless the context or subject matter otherwise requires, –

(a)   “Act” means the Companies Act, 2013 (18 of 2013);

(b)   “Form” means a Form annexed to these rules;

(c)   “Registrar” means the Registrar of the National Company Law Tribunal or National Company Law Appellate Tribunal and includes such other officer of the Tribunal or Bench thereof to whom the powers and functions of the Registrar are assigned;

(d)   “Registry” means the Registry of the Tribunal or any of its Benches or of the Appellate Tribunal, as the case may be, which keeps records of the applications and documents relating thereto;

(e)   “Section” means section of the Act;

(f)   words and expressions used and not defined in these rules but defined in the Act shall have the meanings respectively assigned to them in the Act.

 

[1] Substituted by the Insolvency and Bankruptcy Code, 2016 (13 of 2016), s. 255 & eleventh schedule for the words   “Section 270. Modes of winding up.—(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).”