Amended and updated notes on section 284 of Companies Act 2013. Detail discussion on provisions and rules related to promoters, directors, etc., to cooperate with Company Liquidator.
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 284 of CA 2013 provides for promoters, directors, etc., to cooperate with Company Liquidator.
Recently, we have discussed in detail section 283 (Custody of company’s properties) of CA 2013. Today, we learn the provisions of section 284 of the Companies Act 2013.
The provisions of section 284 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 284 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. | 284 |
| Section Name | Promoters, directors, etc., to cooperate with Company Liquidator |
| Monthly Updated Edition | Company Law PDF |
Section 284 of Companies Act 2013: Promoters, directors, etc., to cooperate with Company Liquidator
Section 284 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
(1) The promoters, directors, officers and employees, who are or have been in employment of the company or acting or associated with the company shall extend full cooperation to the Company Liquidator in discharge of his functions and duties.
(2) Where any person, without reasonable cause, fails to discharge his obligations under sub-section (1), he shall be punishable with imprisonment which may extend to six months or with fine which may extend to fifty thousand rupees, or with both.