Companies Act, 2013

Section - 333 - Disclaimer of onerous property

Disclaimer of onerous property.

333.(1) Where any part of the property of a company which is being wound up consists of-

(a)	-	land of any tenure, burdened with onerous covenants;
(b)	-	shares or stocks in companies;
(c)	-	any other property which is not saleable or is not readily saleable by reason of the possessor thereof being bound either to the performance of any onerous act or to the payment of any sum of money; or
(d)	-	unprofitable contracts,

the Company Liquidator may, notwithstanding that he has endeavoured to sell or has taken possession of the property or exercised any act of ownership in relation thereto or done anything in pursuance of th .... To read the full section download the app from Google Play store