Modes of winding up

The provisions of Part I shall apply to the winding up of a company by the Tribunal under this Act.

(1)

The winding up of a company may be either—

(a)

by the Tribunal; or

(b)

voluntary.

(2)

Notwithstanding anything contained in any other Act, the provisions of this Act with respect to winding up shall apply to the winding up of a company in any of the modes specified under sub-section ( 1 ).

* The Insolvency and Bankruptcy Code 2016 substituted Section 270 titled ‘ Modes of Winding Up’ to ‘Winding up by Tribunal’.

Notes, amendments & references (1)

Substituted vide The Insolvency and Bankruptcy Code, 2016. To view the amendment, Click Here