226. Voluntary winding up of company, etc., not to stop investigation proceedings
An investigation under this Chapter may be initiated notwithstanding, and no
such investigation shall be stopped or suspended by reason only of, the fact that—
(a) an application has been made under section 241;
(b) the company has passed a special resolution for voluntary winding up;
or
(c) any other proceeding for the winding up of the company is pending before
the Tribunal:
Provided that where a winding up order is passed by the Tribunal in a proceeding
referred to in clause (c), the inspector shall inform the Tribunal about the pendency of the
investigation proceedings before him and the Tribunal shall pass such order as it may deem
fit:
Provided further that nothing in the winding up order shall absolve any director or
other employee of the company from participating in the proceedings before the inspector or
any liability as a result of the finding by the inspector.