What is the responsibility of Company Liquidator to submit report on progress of winding up? What is Report of Company Liquidator to Tribunal for examination of persons? Section 316 and 317 of Indian Companies Act 2013

Company Liquidator to submit report on progress of winding up and Report of Company Liquidator to Tribunal for examination of persons are defined under Section 316 and 317 of Indian Companies Act 2013. Provisions under these Sections are:

Section 316 of Indian Companies Act 2013 "Company Liquidator to submit report on progress of winding up"

(1) The Company Liquidator shall report quarterly on the progress of winding up of the company in such form and in such manner as may be prescribed to the members and creditors and shall also call a meeting of the members and the creditors as and when necessary but at least one meeting each of creditors and members in every quarter and apprise them of the progress of the winding up of the company in such form and in such manner as may be
prescribed.

 
Punishment for violation of Section 316 of Companies Act 2013 regarding progress report of winding up by liquidator

(2) If the Company Liquidator fails to comply with the provisions of sub-section (1), he shall be punishable, in respect of each such failure, with fine which may extend to ten lakh rupees.

Section 317 of Indian Companies Act 2013 "Report of Company Liquidator to Tribunal for examination of persons"

(1) Where the Company Liquidator is of the opinion that a fraud has been committed by any person in respect of the company, he shall immediately make a report to the Tribunal and the Tribunal shall, without prejudice to the process of winding up, order for investigation under section 210 and on consideration of the report of such investigation, the Tribunal may pass such order and give such directions under this Chapter as it may consider necessary including the direction that such person shall attend before the Tribunal on a day appointed by it for that purpose and be examined as to the promotion or formation or the conduct of the business of the company or as to his conduct and dealings as officer thereof or otherwise.

(2) The provisions of section 300 shall mutatis mutandis apply in relation to any examination directed under sub-section (1).

What is Arrest of person trying to leave India or abscond? What is Dissolution of company by Tribunal? Section 301 and 302 of Indian Companies Act 2013

What is Appeals from orders made before commencement of Act Circumstances in which company may be wound up voluntarily? Section 303 and 304 of Indian Companies Act 2013

What is declaration of solvency in case of proposal to wind up voluntarily? What is Meeting of creditors? Section 305 and 306 of Indian Companies Act 2013

What is Publication of resolution to wind up voluntarily? What is Commencement of voluntary winding up? What are the Effect of voluntary winding up? Section 307, 308 and 309 of Indian Companies Act 2013

What is appointment of Company Liquidator? What is Power to remove and fill vacancy of Company Liquidator? Section 310 and 311 of Indian Companies Act 2013

What is Notice of appointment of Company Liquidator to be given to Registrar? What is Cessar of Board's powers on appointment of Company Liquidator? Section 312 and 313 of Indian Companies Act 2013

What are the Powers and duties of Company Liquidator in voluntary winding up? What is appointment of committees? Section 314 and 315 of Indian Companies Act 2013

What is the responsibility of Company Liquidator to submit report on progress of winding up? What is Report of Company Liquidator to Tribunal for examination of persons? Section 316 and 317 of Indian Companies Act 2013

What is Final meeting and dissolution of company? Section 318 of Indian Companies Act 2013

What is Power of Company Liquidator to accept shares, etc., as consideration for sale of property of company? What is distribution of property of company? Section 319 and 320 of Indian Companies Act 2013

 

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