Court having jurisdiction to wind up under companies act 2013
Answers
Prior to November 15, 2016, the term “winding-up” was neither defined under the Companies Act, 1956 (“1956 Act”) nor under the Companies Act, 2013 (“2013 Act”). Section 255 of the Insolvency and Bankruptcy Code, 2016 (“the Code”) has been notified with effect from November 15, 2016 and by virtue of Section 255, the 2013 Act stands amended in accordance with Schedule XI of the Code. The aforesaid Schedule XI now defines the term “winding up” by introducing a new Section 2(94A) to the 2013 Act as “winding up under this Act or liquidation under the Insolvency and Bankruptcy Code, 2016.”
Prior to November 15, 2016, the term “winding-up” was neither defined under the Companies Act, 1956 (“1956 Act”) nor under the Companies Act, 2013 (“2013 Act”). Section 255 of the Insolvency and Bankruptcy Code, 2016 (“the Code”) has been notified with effect from November 15, 2016 and by virtue of Section 255, the 2013 Act stands amended in accordance with Schedule XI of the Code. The aforesaid Schedule XI now defines the term “winding up” by introducing a new Section 2(94A) to the 2013 Act as “winding up under this Act or liquidation under the Insolvency and Bankruptcy Code, 2016.”