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of <h1>Section 260 of Companies Act 2013 Omitted by Insolvency and Bankruptcy Code 2016, Changing Company Administrator Duties.</h1> Section 260 of the Companies Act, 2013, which addressed the powers and duties of a company administrator, was omitted by the Insolvency and Bankruptcy Code, 2016. Previously, it required the company administrator to perform functions as directed by the Tribunal, including preparing an inventory of assets and liabilities, compiling lists of shareholders and creditors, creating valuation reports, estimating reserve prices, and preparing proforma accounts. It also involved listing workmen and their dues. These provisions aimed to facilitate the revival and rehabilitation of sick companies.
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