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Sec 341 Companies Act 2013: Liability u/s 339 & 340 (partners/directors in firms/companies)

SECTION-341 (Liability under sections 339 and 340 to extend to partners or directors in firms or companies) under CHAPTER-XX (Winding Up) of the Companies Act, 2013

Where a declaration under section 339 or an order under section 340 is made in respect of a firm or body corporate, the Tribunal shall also have power to make a declaration under section 339, or pass an order under section 340, as the case may be, in respect of any person who was at the relevant time a partner in that firm or a director of that body corporate.

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

(3) Section 341 of the Companies Act 2013 was notified (to the extent of their applicability for section 246) by MCA Notification S.O. 2912(E) dated 9th September, 2016.

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

1 comment:

  1. Section 441 referes firm or body corporate of Insolvency Resolution Professionals, appointed under section 275(2) of the Companies Act, 2013, as liquidators are within scope of section 340.


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