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        Companies Law

        Section 278 - Effect of winding up order

        Companies Act, 2013
        Part I
        Winding up by the Tribunal

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        Winding up order places creditors and contributories on the same statutory footing as if jointly petitioning. An order for the winding up of a company operates in favour of all creditors and all contributories, and is treated as if it had been made on the joint petition of creditors and contributories, aligning their statutory positions following the winding up order.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Winding up order places creditors and contributories on the same statutory footing as if jointly petitioning.

                              An order for the winding up of a company operates in favour of all creditors and all contributories, and is treated as if it had been made on the joint petition of creditors and contributories, aligning their statutory positions following the winding up order.


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