Title : Amendment of Section 425
State : Central
Year : 2002
In section 425 of the principal Act, in sub-section (1),-- (i) in clause (a), for the word "Court", the word "Tribunal" shall be substituted; (ii) in clause (b), the word "or" occurring at the end shall be omitted; (iii) clause (c) shall be omitted. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 434
State : Central
Year : 2002
In section 434 of the principal Act, in sub-section (1),-- (i) in clause (a), for the words "five hundred rupees", the words "one lakh rupees" shall be substituted; (ii) in clause (b), for the words "any Court", the words "any Court or Tribunal" shall be substituted; (iii) in clause (c), for the word "Court", at both the places where it occurs, the word "Tribunal" shall be substituted. View Complete Act List Judgments citing this sectionTitle : Omission of Section 442
State : Central
Year : 2002
Section 442 of the principal Act shall be omitted. View Complete Act List Judgments citing this sectionTitle : Substitution of New Sections for Sections 443 and 444
State : Central
Year : 2002
For sections 443 and 444 of the principal Act, the following sections shall be substituted, namely:-- "443. Power of Tribunal on hearing petition.-- (1) On hearing a winding up petition, the Tribunal may -- (a) dismiss it, with or without costs; or (b) adjourn the hearing conditionally or unconditionally; or (c) make any interim order that it thinks fit; or (d) make an order for winding up the company with or without costs, or any other order that it thinks fit: Provided that the Tribunal shall not refuse to make a winding up order on the ground only that the assets of the company have been mortgaged to an amount equal to or in excess of those assets, or that the company has no assets, (2) Where the petition is presented on the ground that it is just and equitable that the..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 446
State : Central
Year : 2002
In section 446 of the principal Act,-- (a) in sub-section (1), for the word "Court" at both the places where it occurs, the word "Tribunal" shall be substituted; (b) in sub-section (2), for the words "The court which is winding up the company", the words "The Tribunal" shall be substituted; (c) sub-section (3) shall be omitted. View Complete Act List Judgments citing this sectionTitle : Substitution of New Section for Section 466
State : Central
Year : 2002
For section 466 of the principal Act, the following section shall be substituted, namely:-- "466. Power of Tribunal to stay winding up.-- (1) The Tribunal may at any time after making a winding up order, on the application either of the Official Liquidator or of any creditor or contributory, and on proof to the satisfaction of the Tribunal that all proceedings in relation to the winding up ought to be stayed, make an order staying the proceedings, either altogether or for a limited time, on such terms and conditions as the Tribunal thinks fit. (2) On any application under this section, the Tribunal may, before making an order, require the Official Liquidator to furnish to the Tribunal a report with respect to any facts or matters which are in his opinion relevant to the application...... View Complete Act List Judgments citing this sectionTitle : Substitution of New Section for Section 472
State : Central
Year : 2002
For section 472 of the principal Act, the following section shall be substituted, namely:-- "472. Moneys and securities paid into bank to be subject to order of Tribunal.--All moneys, bills, hundis, notes and other securities paid or delivered into the Reserve Bank of India in the course of the winding up of a company by the Tribunal, shall be subject in alt respects to the orders of the Tribunal.". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 478
State : Central
Year : 2002
In section 478 of the principal Act,-- (a) for the word "Court", wherever it occurs, the word "Tribunal" shall be substituted; (b) in sub-section (3) and clause (b) of sub-section (6), for the words "advocate, attorney or pleader entitled to appear before the Court", the words, figures and letters "chartered accountants or company secretaries or cost accountants or legal practitioners entitled to appear before the Tribunal under section 10GD" shall be substituted; (c) for sub-section (10), the following sub-section shall be substituted, namely:-- "(10) An examination under this section may, if the Tribunal so directs, be held before any person or authority authorised by the Tribunal."; (d) in sub-section (11), for the words "exercised by the Judge or officer", the words..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 494
State : Central
Year : 2002
In section 494 of the principal Act, in sub-section (5),-- (a) for the words "or subject to the supervision of the Court", the words "the Tribunal" shall be substituted; (b) for the words "sanctioned by the Court", the words "sanctioned by the Tribunal" shall be substituted. View Complete Act List Judgments citing this sectionTitle : Omission of Sections 522 to 527
State : Central
Year : 2002
Sections 522 to 527 of the principal Act shall be omitted. View Complete Act List Judgments citing this section