Amended and updated notes on section 357 of Companies Act 2013. Detail discussion on provisions and rules related to commencement of winding up by Tribunal.
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 357 of CA 2013 provides for commencement of winding up by Tribunal.
Recently, we have discussed in detail section 356 (Powers of Tribunal to declare dissolution of company void) of CA 2013. Today, we learn the provisions of section 357 of the Companies Act 2013.
The provisions of section 357 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 357 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. | 357 |
| Section Name | Commencement of winding up by Tribunal |
| Monthly Updated Edition | Company Law PDF |
Section 357 of Companies Act 2013: Commencement of winding up by Tribunal
Section 357 substituted pursuant to section 255 of the Insolvency and Bankruptcy Code, 2016 vide Notification No. S.O. 3453(E) issued dated 15.11.2016 and shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
The winding up of a company by the Tribunal under this Act shall be deemed to commence at the time of the presentation of the petition for the winding up.