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of <h1>Winding up makes post-commencement asset seizures void, except for government tax and duty recoveries on company property</h1> When a company is being wound up by the Tribunal, any attachment, distress, execution, or sale of its estate, properties, or effects, made after commencement of the winding up without the Tribunal's leave, is rendered void. This provision centralizes control over the company's assets in the Tribunal, preventing individual creditors from enforcing claims or disposing of assets unilaterally once winding up has begun. However, the section expressly excludes from its operation any proceedings for recovery of taxes, imposts, or other dues payable to the Government, allowing such governmental recoveries to proceed notwithstanding the winding up.
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