TaxTMI Login
Just a moment...
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>Section 319 Omitted: Liquidators Can't Accept Shares as Compensation in Voluntary Wind-Up Under Insolvency and Bankruptcy Code 2016.</h1> Section 319 of the Companies Act, 2013, which was omitted by the Insolvency and Bankruptcy Code, 2016, previously allowed a Company Liquidator to accept shares or similar interests as compensation when a company is voluntarily winding up and transferring or selling its business to another company. This could occur with a special resolution's approval and required secured creditors' consent. Members dissenting from the resolution could demand either abstention from the resolution or purchase of their interest. If the liquidator chose to purchase, payment had to be made before the company's dissolution.
TaxTMI 
TaxTMI 
