Section 295 of Companies Act, 2013 – Payment of debts by contributory and extent of set-off

  • Updated Till : November 03, 2024

SECTION 295. PAYMENT OF DEBTS BY CONTRIBUTORY AND EXTENT OF SET-OFF

[Effective from 15th December, 2016]

(1) The Tribunal may, at any time after passing of a winding up order, pass an order requiring any contributory for the time being on the list of contributories to pay, in the manner directed by the order, any money due to the company, from him or from the estate of the person whom he represents, exclusive of any money payable by him or the estate by virtue of any call in pursuance of this Act.

(2) The Tribunal, in making an order, under sub-section (1), may,—

(a)   in the case of an unlimited company, allow to the contributory, by way of set-off, any money due to him or to the estate which he represents, from the company, on any independent dealing or contract with the company, but not any money due to him as a member of the company in respect of any dividend or profit; and

(b)   in the case of a limited company, allow to any director or manager whose liability is unlimited, or to his estate, such set-off.

(3) In the case of any company, whether limited or unlimited, when all the creditors have been paid in full, any money due on any account whatever to a contributory from the company may be allowed to him by way of set-off against any subsequent call.

 

 

16 responses to “Section 295 of Companies Act, 2013 – Payment of debts by contributory and extent of set-off”

  1. Yes! Finally something about spellig tutor near me.

  2. Dear corporatelawreporter.com webmaster, Keep it up!

  3. Hi to all, һow is the whole thing, I think every one is getting
    more from this web site, and your views are nice designed for new
    users.

  4. Stuart says:

    This is my first time pay a quick visit at here and i am actually happy to read all at
    alone place.

  5. Jaems says:

    I just like the helpful information you supply in your
    articles. I will bookmark your blog and check once more here frequently.

    I am somewhat certain I will learn many new stuff proper here!
    Best of luck for the following!

  6. Beryl says:

    Everything is very open with a really clear clarification of the issues. It was really informative. Your website is extremely helpful. Thanks for sharing!

  7. Tarot Reader says:

    Once I initially commented I clicked the -Notify me when new feedback are added- checkbox and now every time a remark is added I get four emails with the identical comment. Is there any way you can remove me from that service? Thanks!

  8. In the realm of healthcare, where every second counts and patient well-being is paramount, oxygen plays a vital role in sustaining life.
    To ensure a continuous and reliable supply of this life-saving gas, oxygen compressors have
    become indispensable assets in various medical settings. From hospitals and clinics to emergency response units, these specialized compressors serve
    as the lifeline that empowers medical professionals
    to deliver critical care with precision and efficiency.

    Understanding the Importance of Oxygen

    Oxygen is a fundamental element that our bodies require to
    function properly. In medical settings, oxygen therapy is administered to patients
    who have difficulty breathing, respiratory conditions, or require support during surgeries.
    Oxygen helps maintain adequate oxygen levels in the blood, ensuring vital organs receive the necessary oxygen supply for optimal function.

    The Crucial Role of Oxygen Compressors

    Oxygen compressors are designed to increase the pressure of the incoming oxygen, allowing it
    to be efficiently stored and distributed. These compressors play
    a critical role in medical facilities by ensuring a continuous and controlled flow of oxygen to
    patients.

    Types of Oxygen Compressors

    Various types of oxygen compressors cater to different medical
    needs and settings:

    1. High-Pressure Oxygen Compressors: These compressors increase the
    oxygen pressure to meet the specific requirements of hospital pipelines and filling
    oxygen cylinders.

    2. Portable Oxygen Compressors: Compact and
    lightweight, portable oxygen compressors are ideal for emergency medical services and home care settings.
    They provide a mobile solution for delivering oxygen to patients in need.

    3. Oxygen Concentrator Compressors: Oxygen concentrators are medical devices that extract oxygen from the surrounding air.
    The compressor component increases the oxygen concentration, delivering therapeutic oxygen to patients via nasal
    cannulas or masks.

    Enhancing Patient Care and Safety

    The reliable operation of oxygen compressors is
    crucial to ensure uninterrupted oxygen supply to patients.
    Regular maintenance and adherence to safety protocols
    are essential to prevent any disruptions in oxygen delivery.
    Medical facilities invest in high-quality oxygen compressors from reputable
    manufacturers to guarantee the safety and well-being of their patients.

    The Evolution of Oxygen Compressors

    As technology advances, so does the design and efficiency
    of oxygen compressors. Manufacturers continually
    work to improve compressor performance, minimize noise levels, and enhance energy efficiency.
    Additionally, modern oxygen compressors incorporate safety features, such as pressure alarms and emergency shutdown systems, to safeguard against potential risks.

    The Pandemic’s Impact

    The COVID-19 pandemic highlighted the critical importance of oxygen supply in healthcare settings.
    Oxygen compressors became even more instrumental in ensuring that hospitals and
    medical facilities had the capacity to support patients suffering from respiratory complications.

    Conclusion

    Oxygen compressors are the unsung heroes in healthcare, silently
    working behind the scenes to sustain life and support medical professionals in their tireless efforts
    to save lives. From emergency care to chronic condition management,
    these compressors unlock the life-saving potential of oxygen therapy, providing hope and healing to patients in need.
    As technology continues to advance and healthcare needs evolve, oxygen compressors will undoubtedly
    play an ever more crucial role in meeting the growing demands
    of modern medicine, ultimately contributing to a healthier and safer world for all.

  9. It is indeed my belief that mesothelioma will be the most deadly cancer. It contains unusual attributes. The more I actually look at it the more I am confident it does not behave like a true solid human cancer. In case mesothelioma is actually a rogue virus-like infection, hence there is the chance for developing a vaccine and offering vaccination for asbestos open people who are really at high risk with developing upcoming asbestos associated malignancies. Thanks for sharing your ideas on this important health issue.

  10. video porno says:

    A few things i have seen in terms of pc memory is that often there are specifications such as SDRAM, DDR and many others, that must go with the requirements of the mother board. If the computer’s motherboard is rather current and there are no main system issues, changing the storage space literally will take under an hour or so. It’s among the list of easiest computer system upgrade types of procedures one can visualize. Thanks for sharing your ideas.

  11. Thanks a lot for sharing this with all of us you really know what you are talking about! Bookmarked. Please also visit my site =). We could have a link exchange contract between us!

  12. Lost mary says:

    One thing I’ve noticed is that there are plenty of myths regarding the lenders intentions if talking about property foreclosures. One myth in particular is always that the bank wants your house. The financial institution wants your money, not the home. They want the cash they loaned you together with interest. Averting the bank will undoubtedly draw a new foreclosed summary. Thanks for your publication.

  13. situs porno says:

    Thanks for your posting. I would also love to comment that the very first thing you will need to carry out is determine whether you really need credit restoration. To do that you will need to get your hands on a copy of your credit report. That should really not be difficult, because the government makes it necessary that you are allowed to get one cost-free copy of your real credit report each year. You just have to request that from the right folks. You can either look into the website owned by the Federal Trade Commission or maybe contact one of the major credit agencies instantly.

  14. Medical protective clothing plays a crucial
    role in ensuring safety and protection in various healthcare settings.

    Designed to shield healthcare workers from potential hazards, such as infectious
    agents and hazardous substances, protective clothing is a vital component
    of personal protective equipment (PPE). It acts as a physical barrier, safeguarding
    healthcare professionals from contamination and minimizing the
    risk of transmission. When it comes to ensuring the safety of healthcare workers, medical protective clothing is an indispensable resource.

  15. I’ve learned several important things by means of your post. I’d personally also like to express that there might be situation in which you will get a loan and don’t need a co-signer such as a Government Student Aid Loan. However, if you are getting financing through a common bank then you need to be willing to have a co-signer ready to enable you to. The lenders may base that decision over a few aspects but the biggest will be your credit history. There are some financial institutions that will as well look at your work history and decide based on that but in most cases it will hinge on your report.

  16. I have been browsing online more than three hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. Personally, if all website owners and bloggers made good content as you did, the internet will be much more useful than ever before.

Leave a Reply

Your email address will not be published. Required fields are marked *

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

India’s Leading Compliance Software

India’s Leading Compliance Software

Get A Demo Today !

Recent Articles

Recent Legal updates

Recent Gst Updates