Laws-2385

433 Circumstances in which company may be wound up by Tribunal 434 Company when deemed unable to pay its debts 435 Transfer of winding up proceedings to District Court 436 Withdrawal and transfer of winding up from one District Court to another 437 Power of High Court to retain winding up proceedings in District Court 438 Jurisdiction of High Court under sections 435, 436 and 437 to be exercised at any time and at any stage 439 Provisions as to applications for winding up 440 Right to present winding up petition where company is being wound-up voluntarily 441 Commencement of winding up by Court 442 Power of Court to stay or restrain proceedings against company 443 Powers of Court on hearing petition 444 Order for winding up to be communicated to Official Liquidator and Registrar 445 Copy of winding up order to be filed with Registrar 446 Suits stayed on winding up order 446A Responsibility of directors and officers to submit to Tribunal audited books and accounts 447 Effect of winding up order 448 Appointment of Official Liquidator 449 Official Liquidator to be liquidator 450 Appointment and powers of provisional liquidator 451 General provisions as to liquidators 452 Style, etc., of liquidator 453 Receiver not to be appointed of assets with liquidator 454 Statement of affairs to be made to Official Liquidator 455 Report by Official Liquidator 456 Custody of company’s property 457 Powers of liquidator 458 Discretion of liquidator 458A Exclusion of certain time in computing periods of limitation 459 Provision for legal assistance to liquidator 460 Exercise and control of liquidator’s powers 461 Books to be kept by liquidator 462 Audit of liquidator’s accounts 463 Control of Central Government over liquidators 464 Appointment and composition of committee of inspection 465 Constitution and proceedings of committee of inspection 466 Power of Court to stay winding up 467 Settlement of list of contributories and application of assets 468 Delivery of property to liquidator 469 Payment of debts due by contributory and extent of set-off 470 Power of Court to make calls 471 Payment into bank of moneys due to company 472 Moneys and securities paid into Bank to be subject to order of Court 473 Order on contributory to be conclusive evidenced 474 Power to exclude creditors not proving in time 475 Adjustment of rights of contributories 476 Power to order costs 477 Power to summon persons suspected of having property of company etc 478 Power to order public examination of promoters, directors, etc. 480 Saving of existing powers of court 481 Dissolution of company 482 Order made in any court to be enforced by other courts 483 Appeals from orders 441A Levy and collection of cess on turnover or gross receipts of companies 441B Crediting proceeds of cess to consolidated fund of india 441C Rehabilitation fund 441D Application of fund 441E Power to call for information 441F Penalty for non-payment of cess 441G Refund of fund in certain cases 439A Statement of affairs to be filed on winding up of a company