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of <h1>Section 537: Actions Against Company Assets Void Without Tribunal Approval During Winding Up, Tax Recovery Exempted.</h1> Section 537 of the Companies Act, 1956, addresses the avoidance of certain legal actions during the winding up of a company by a Tribunal. It declares that any attachment, distress, execution, or sale of the company's assets conducted without the Tribunal's permission, after the winding up has commenced, is void. However, this provision does not apply to proceedings related to the recovery of taxes or government dues. The section was amended by the Companies (Second Amendment) Act, 2002, but the effective date of this amendment is yet to be notified.
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