#company #windingup #liquadator #onerousproperty #Sec333 #director #badassets #companiesact #rule156 #rule157 Section 333 of the Company Act of 2013 disclaims onerous property during the company's winding-up process. This provision protects the assets of an insolvent company from further losses and allows the company liquidator to renounce burdensome property. Before or after granting leave to disclaim, the Tribunal may require that such notices be made to those who are inter

#Company #windingup #liquadation #section331 #companiesact #dutyofliquadator #director Section 331 of the Companies Act of 2013 is part of Chapter 20 of the Act, which deals with the issue of company winding up. A company's dissolution is known as winding up. Section 331 explains the responsibilities and rights of those who have been fraudulently preferred. Section 328, which deals with the problem of false preference, refers to a fraudulently favored individual. According to

#company #liquadation #director #liquadator #sec327 #preferencecreditors #preferencialpayments When a company goes into administration or is liquidated, the directors' actions leading up to the insolvency will be reviewed to see if they did anything incorrect or illegal. Preferential payments are one form of transaction that is being scrutinized in this circumstance. The liquidator has to maximize return for all creditors during the liquidation process. When a particular cred

#companiesact2013 #companylaws #director #corporatepractice #disclosure #disclosureofinterestbydirector INTRODUCTION: Section 184 of the Companies Act of 2013 governs the disclosure of a director's conflict of interest. It states that every director must disclose his concern of interest in any company or companies or firms, or other association of persons at the first meeting of the Board in which he engages as a director, and thereafter at the first meeting of the Board in e