320. Distribution of property of company Subject to the provisions of this Act as to overriding preferential payments under section 326, the assets of a company shall, on its winding up, be applied in satisfaction of its liabilities pari passu and, subject to such application, shall, unless the articles otherwise provide, be distributed among the
Section 34 in The Code Of Criminal Procedure, 1973 34. Withdrawal of powers. The High Court or the state Government, as the case may be, may withdraw all or any of the powers conferred by it under this Code on any person or by any officer subordinate to it. Any powers conferred by the Chief
319. Power of Company Liquidator to accept shares, etc., as consideration for sale of property of company (1) Where a company (the transferor company) is proposed to be, or is in the course of being, wound up voluntarily and the whole or any part of its business or property is proposed to be transferred or
318. Final meeting and dissolution of company (1) As soon as the affairs of a company are fully wound up, the Company Liquidator shall prepare a report of the winding up showing that the property and assets of the company have been disposed of and its debt fully discharged or discharged to the satisfaction of
317. Report of Company Liquidator to Tribunal for examination of persons (1) Where the Company Liquidator is of the opinion that a fraud has been committed by any person in respect of the company, he shall immediately make a report to the Tribunal and the Tribunal shall, without prejudice to the process of winding up,
316. Company Liquidator to submit report on progress of winding up (1) The Company Liquidator shall report quarterly on the progress of winding up of the company in such form and in such manner as may be prescribed to the members and creditors and shall also call a meeting of the members and the creditors
Section 33 in The Code Of Criminal Procedure, 1973 33. Powers of officers appointed. Whenever any person holding an office in the service of Government who has been invested by the High Court or the State Government with any powers under this Code throughout any local area is appointed to an equal or higher office
315. Appointment of committees Where there are no creditors of a company, such company in its general meeting and, where a meeting of creditors is held under section 306, such creditors, as the case may be, may appoint such committees as considered appropriate to supervise the voluntary liquidation and assist the Company Liquidator in discharging
314. Powers and duties of Company Liquidator in voluntary winding up (1) The Company Liquidator shall perform such functions and discharge such duties as may be determined from time to time by the company or the creditors, as the case may be. (2) The Company Liquidator shall settle the list of contributories, which shall be
313. Cesser of Board’s powers on appointment of Company Liquidator On the appointment of a Company Liquidator, all the powers of the Board of Directors and of the managing or whole-time directors and manager, if any, shall cease, except for the purpose of giving notice of such appointment of the Company Liquidator to the Registrar.