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of <h1>Application Under Section 300(5) and Rule 149 Allows Examination Exculpation in Company Winding-Up Process</h1> An application under sub-section (5) of section 300 of the Companies Law allows a person ordered to be examined to seek exculpation from any charges made or suggested against them. This application must be made with notice to the Company Liquidator and any other persons as directed by the Tribunal. This rule is part of the Companies (Winding Up) Rules, 2020, specifically Rule 149, which outlines the procedure for such applications during the winding-up process.
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