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Sec 334 Companies Act 2013: Transfers after winding up starts - Void

SECTION-334 (Transfers, etc., after commencement of winding up to be void) under CHAPTER-XX (Winding Up) of the Companies Act, 2013

In the case of a winding up by the Tribunal, any disposition of the property including actionable claims, of the company and any transfer of shares in the company or alteration in the status of its members, made after the commencement of the winding up shall, unless the Tribunal otherwise orders, be void.

Extra Notes for Readers

(1) The Companies Act, 2013 received the assent of the President on the 29th August, 2013 (Published in the Gazette of India, Extraordinary, Part II - Section 1 by Ministry of Law and Justice, Legislative Department on 30th August, 2013).

(2) Section 334 of the Companies Act 2013 was notified by MCA Notification S.O. 3677(E) dated 7th December 2016 (w.e.f. 15th December 2016).

 Section 334 of the Companies Act 2013 was substituted in accordance with the section 255 of the Insolvency and Bankruptcy Code, 2016.

MCA has notified section 255 of the Insolvency and Bankruptcy Code, 2016 vide notification no. S.O. 3453(E) dated 15th November 2016 (w.e.f. 15th November 2016).

This page was last updated on 6th May, 2017.

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