Amended and updated notes on section 278 of Companies Act 2013. Detail discussion on provisions and rules related to effect of winding up order.
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 278 of CA 2013 provides for effect of winding up order.
Recently, we have discussed in detail section 277 (Intimation to Company Liquidator, provisional liquidator and Registrar) of CA 2013. Today, we learn the provisions of section 278 of the Companies Act 2013.
The provisions of section 278 are effective from 15th December, 2016. You may refer Notification No. S.O. 3677(E) issued dated 7-12-2016. In this article, you will learn detail of the provisions of section 278 the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XX |
| Chapter Name | Winding Up |
| Section No. | 278 |
| Section Name | Effect of winding up order |
| Monthly Updated Edition | Company Law PDF |
Section 278 of Companies Act 2013: Effect of winding up order
Section 278 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
The order for the winding up of a company shall operate in favour of all the creditors and all contributories of the company as if it had been made out on the joint petition of creditors and contributories.