Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Tribunal Can Demand Payments from Contributories During Winding-Up Under Section 470 of Companies Act, 1956</h1> Section 470 of the Companies Act, 1956, grants the Tribunal the authority to make financial calls on contributories during the winding-up process of a company. This can be done at any stage after a winding-up order is issued, regardless of whether the company's asset sufficiency has been determined. The Tribunal can demand payments to cover debts, liabilities, and winding-up expenses, as well as to adjust contributories' rights. It may also consider the likelihood of non-payment by some contributories when making such calls. This provision was amended by the Companies (Second Amendment) Act, 2002.
TaxTMI 
TaxTMI 
