Amended and updated notes on section 301 of Companies Act 2013. Detail discussion on provisions and rules related to arrest of person trying to leave India or abscond.
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 301 of CA 2013 provides for arrest of person trying to leave India or abscond.
Recently, we have discussed in detail section 300 (Power to order examination of promoters, directors, etc.) of CA 2013. Today, we learn the provisions of section 301 of the Companies Act 2013.
The provisions of section 301 are effective from 15th December, 2016. You may refer Notification No. S.O. 3677(E) issued dated 7-12-2016. In this article, you will learn detail of the provisions of section 301 the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XX |
| Chapter Name | Winding Up |
| Section No. | 301 |
| Section Name | Arrest of person trying to leave India or abscond |
| Monthly Updated Edition | Company Law PDF |
Section 301 of Companies Act 2013: Arrest of person trying to leave India or abscond
Section 301 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
At any time either before or after passing a winding up order, if the Tribunal is satisfied that a contributory or a person having property, accounts or papers of the company in his possession is about to leave India or otherwise to abscond, or is about to remove or conceal any of his property, for the purpose of evading payment of calls or of avoiding examination respecting the affairs of the company, the Tribunal may cause—
- (a) the contributory to be detained until such time as the Tribunal may order; and
- (b) his books and papers and movable property to be seized and safely kept until such time as the Tribunal may order.