PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP (From Rule 179 to Rule 182)
Company liquidator sales of company assets require prior sanction and subsequent confirmation to ensure validity and oversight. Sales of property or assets of a company being wound up by the Tribunal require the Company Liquidator to obtain the previous sanction of the Tribunal, and every sale is subject to confirmation by the Tribunal, unless the Tribunal otherwise orders.
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.
Company liquidator sales of company assets require prior sanction and subsequent confirmation to ensure validity and oversight.
Sales of property or assets of a company being wound up by the Tribunal require the Company Liquidator to obtain the previous sanction of the Tribunal, and every sale is subject to confirmation by the Tribunal, unless the Tribunal otherwise orders.
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