Amended and updated notes on section 360 of Companies Act 2013. Detail discussion on provisions and rules related to powers and functions of Official Liquidator.
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 360 of CA 2013 provides for powers and functions of Official Liquidator.
Recently, we have discussed in detail section 359 (Appointment of Official Liquidator) of CA 2013. Today, we learn the provisions of section 360 of the Companies Act 2013.
The provisions of section 360 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 360 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. | 360 |
| Section Name | Powers and functions of Official Liquidator |
| Monthly Updated Edition | Company Law PDF |
Section 360 of Companies Act 2013: Powers and functions of Official Liquidator
Section 360 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
(1) The Official Liquidator shall exercise such powers and perform such duties as the Central Government may prescribe.
(2) Without prejudice to the provisions of sub-section (1), the Official Liquidator may—
- (a) exercise all or any of the powers as may be exercised by a Company Liquidator under the provisions of this Act; and
- (b) conduct inquiries or investigations, if directed by the Tribunal or the Central Government, in respect of matters arising out of winding up proceedings.