What is Saving of existing liabilities What is Continuation of pending legal proceedings Section 369 and 370 of Indian Companies Act 2013

Saving of existing liabilities and Continuation of pending legal proceedings are defined under Section 369  and 370 of Indian Companies Act 2013. Provisions under these Sections are:

Section 369 of Indian Companies Act 2013 "Saving of existing liabilities"

 

The registration of a company in pursuance of this Part shall not affect its rights or liabilities in respect of any debt or obligation incurred, or any contract entered into, by, to, with, or on behalf of, the company before registration.

Section 370 of Indian Companies Act 2013 "Continuation of pending legal proceedings"

All suits and other legal proceedings taken by or against the company, or any public officer or member thereof, which are pending at the time of the registration of a company in pursuance of this Part, may be continued in the same manner as if the registration had not taken place:

Provided that execution shall not issue against the property or persons of any individual member of the company on any decree or order obtained in any such suit or proceeding; but, in the event of the property of the company being insufficient to satisfy the decree or order, an order may be obtained for winding up the company.

 

What is summary procedure for liquidation What is sale of assets and recovery of debts due to company Section 361 and 362 of Indian Companies Act 2013

What is Settlement of claims of creditors by Official Liquidator What is Appeal by creditor Section 363 and 364 of Indian Companies Act 2013

What is Order of dissolution of company Companies capable of being registered. Section 365 and 366 of Indian Companies Act 2013

What is Certificate of registration of existing companies What is Vesting of property on registration Section 367 and 368 of Indian Companies Act 2013

What is Saving of existing liabilities What is Continuation of pending legal proceedings Section 369 and 370 of Indian Companies Act 2013

What is Effect of registration under this Part What is Power of Court to stay or restrain proceedings Section 371 and 372 of Indian Companies Act 2013

What is Suits stayed on winding up order What is Obligations of companies registering under this Part Section 373 and 374 of Indian Companies Act 2013

What is Winding up of unregistered companies What is Power to wind up foreign companies, although dissolved Section 375 and 376 of Indian Companies Act 2013

What is Provisions of Chapter cumulative What is Saving and construction of enactments conferring power to wind up partnership firm, association or company, etc., in certain cases Section 377 and 378 of Indian Companies Act 2013

What is Application of Act to foreign companies What is Documents, etc., to be delivered to Registrar by foreign companies Section 379 and 380 of Indian Companies Act 2013

 

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