Section 333 of Companies Act, 2013: Disclaimer of Onerous Property by Liquidator-Rule 152 to 160
#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