What is Costs of voluntary winding up Is Debts of all descriptions to be admitted to proofSection 323 and 324 of Indian Companies Act 2013

Costs of voluntary winding up and Debts of all descriptions to be admitted to proof are defined under Section 323  and 324 of Indian Companies Act 2013. Provisions under this Section is:

Section 323 of Indian Companies Act 2013 "Costs of voluntary winding up"

All costs, charges and expenses properly incurred in the winding up, including the fee of the Company Liquidator, shall, subject to the rights of secured creditors, if any, be payable out of the assets of the company in priority to all other claims.

 

Section 324 of Indian Companies Act 2013 "Debts of all descriptions to be admitted to proof"

In every winding up (subject, in the case of insolvent companies, to the application in accordance with the provisions of this Act or of the law of insolvency), all debts payable on a contingency, and all claims against the company, present or future, certain or contingent, ascertained or sounding only in damages, shall be admissible to proof against the company, a just estimate being made, so far as possible, of the value of such debts or claims as may be subject to any contingency, or may sound only in damages, or for some other reason may not bear a certain value.

 

 

 

What is Arrangement when binding on company and creditors What is Power to apply to Tribunal to have questions determined, etc Section 321 and 322 of Indian Companies Act 2013

What is Costs of voluntary winding up Is Debts of all descriptions to be admitted to proof Section 323 and 324 of Indian Companies Act 2013

What is Application of insolvency rules in winding up of insolvent companies What is Overriding preferential payments Section 325 and 326 of Indian Companies Act 2013

What is Preferential payments What is Fraudulent preference Section 327 and 328 of Indian Companies Act 2013

What is Transfers not in good faith to be void Certain transfers to be void. Section 329 and 330 of Indian Companies Act 2013

What is Liabilities and rights of certain persons fraudulently preferred What is effect of floating charge Section 331 and 332 of Indian Companies Act 2013

What is Disclaimer of onerous property Is Transfers, etc., after commencement of winding up to be void Section 333 and 334 of Indian Companies Act 2013

What is certain attachments, executions, etc., in winding up by Tribunal to be void What are Offences by officers of companies in liquidation Section 335 and 336 of Indian Companies Act 2013

What is Penalty for frauds by officers What is Liability where proper accounts not kept Section 337 and 338 of Indian Companies Act 2013

What is Liability for fraudulent conduct of business What is Power of Tribunal to assess damages against delinquent directors, etc Section 339 and 340 of Indian Companies Act 2013

 

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