Section 320 of Companies Act, 2013

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 319 of Companies Act, 2013

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

Section 318 of Companies Act, 2013

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