Section-270: Modes of Winding Up

CHAPTER XX
WINDING UP

 Notified Date of Section: 7/12/2016

 Effective Date: 15/12/2016

¹[“270. The provisions of Part I shall apply to the winding up of a company by the Tribunal under this Act.”.]

Amendment

1.(a) Substituted by Insolvency and Bankruptcy Code, 2016 Dated 15th November, 2016.

   For Section 270 ,

   270. (1) The winding up of a company may be either—
(a) by the Tribunal; or
(b) voluntary.

   (2) Notwithstanding anything contained in any other Act, the provisions of this Act with respect to winding up shall apply to the winding up of a company in any of the modes specified under sub-section (1).

   the following section shall be substituted, namely:—

   “270. The provisions of Part I shall apply to the winding up of a company by the Tribunal under this Act.”.

   (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016