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TypeBare Act JurisdictionCentral Government

Companies (Second Amendment) Act, 2002 Section 56

Substitution of New Sections for Sections 440 and 441

~1 min read
https://sooperkanoon.com/act/45255

Bare act section · Research

About this section

Companies (Second Amendment) Act, 2002 Section 56 is part of Companies (Second Amendment) Act, 2002 - Substitution of New Sections for Sections 440 and 441. Read the section text below and explore Indian court judgments that cite it.

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Section Text

For sections 440 and 441 of the principal Act, the following sections shall be substituted, namely:--

440. Right to present winding up petition where company is being wound up voluntarily.-- (1) Where a company is being wound up voluntarily, a petition for its winding up by the Tribunal may be presented by --

(a) any person authorised to do so under section 439; or

(b) the Official Liquidator.

(2) The Tribunal shall not make a winding up order on a petition presented to it under sub-section (1), unless it is satisfied that the voluntary winding up cannot be continued with due regard to the interests of the creditors or contributories or both.

441. Commencement of winding up by Tribunal.-- (1) Where, before the presentation of a petition for the winding up of a company by the Tribunal, a resolution has been passed by the company for voluntary winding up, the winding up of the company shall be deemed to have commenced at the time of the passing of the resolution, and unless the Tribunal, on proof of fraud or mistake, thinks fit to direct otherwise, all proceedings taken in the voluntary winding up shall be deemed to have been validly taken.

(2) In any other case, the winding up of a company by the Tribunal shall be deemed to commence at the time of the presentation of the petition for the winding up.".

Frequently asked questions

What does Companies (Second Amendment) Act, 2002 Section 56 provide?

Section Section 56 of the Companies (Second Amendment) Act, 2002 (Substitution of New Sections for Sections 440 and 441) is reproduced on this page as part of the Companies (Second Amendment) Act, 2002. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Companies (Second Amendment) Act, 2002 Section 56?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Companies (Second Amendment) Act, 2002 Section 56. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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