Companies Act, 2013

Section - 343 - Company Liquidator to exercise certain powers subject to sanction

Company Liquidator to exercise certain powers subject to sanction .

343. [ (1) The Company Liquidator may, with the sanction of the Tribunal, when the company is being wound up by the Tribunal,-

(i)- pay any class of creditors in full;
(ii)- make any compromise or arrangement with creditors or persons claiming to be creditors, or having or alleging themselves to have any claim, present or future, certain or contingent, against the company, or whereby the company may be rendered liable; or
(iii)- compromise any call or liability to call, debt, and liability capable of resulting in a debt, and any claim, present or future, certain or contingent, ascertained or sounding only in damages, subsisting or alleged to subsist between the company an .... To read the full section download the app from Google Play store