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of <h1>Central Government Empowered to Set Winding Up Rules for Companies Under Section 643 of Companies Act, 1956.</h1> The Companies Act, 1956, Section 643 grants the Central Government the authority to establish rules related to the winding up of companies, ensuring consistency with the Code of Civil Procedure, 1908. These rules cover aspects such as tribunal proceedings, voluntary winding up by members or creditors, creditor meetings, capital reduction, and applications to the Tribunal. They also address the management of creditor and contributory meetings, asset collection, and the liquidator's responsibilities. Existing rules by the Supreme Court remain effective until new rules are established by the Central Government, with references to the High Court now directed to the Tribunal.
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