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of <h1>Section 343 of Companies Act: Liquidator's Powers in Tribunal-Ordered Winding Up, Amended by Insolvency and Bankruptcy Code 2016.</h1> Section 343 of the Companies Act, 2013, outlines the powers of a Company Liquidator during a tribunal-ordered winding up. The Liquidator can, with tribunal approval, pay creditors in full, make arrangements with creditors, and settle liabilities or claims against the company. The Central Government may allow these actions without tribunal sanction under specific rules. Creditors or contributors can appeal to the tribunal regarding the Liquidator's actions. The section was amended by the Insolvency and Bankruptcy Code, 2016, to streamline the Liquidator's powers and conditions under which they can be exercised.
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