Section - 440 - Right to present winding up petition where company is being wound up voluntarily
[Right to present winding up petition where company is being wound up voluntarily.440. (1) Where a company is being wound up voluntarily, a petition for its winding up by the Tribunal may be presented by— (a) any person authorised to do so under ; or (b) the Official Liquidator.(2) The Tribunal shall not make a winding up order on a petition presented to it under sub-section (1), unless it is satisfied that the voluntary winding up cannot be continued with due regard to the interests of the creditors or contributories or both.
69. Substituted by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified. Prior to substitution, sections 440 & 441 read as under : "440. Right to present winding up petition where company is being wound up voluntarily or subject to Court’s supervision.—.... To read the full section download the app from Google Play store
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