Amended and updated notes on section 297 of Companies Act 2013. Detail discussion on provisions and rules related to adjustment of rights of contributories.
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 297 of CA 2013 provides for adjustment of rights of contributories.
Recently, we have discussed in detail section 296 (Power of Tribunal to make calls) of CA 2013. Today, we learn the provisions of section 297 of the Companies Act 2013.
The provisions of section 297 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 297 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. | 297 |
| Section Name | Adjustment of rights of contributories |
| Monthly Updated Edition | Company Law PDF |
Section 297 of Companies Act 2013: Adjustment of rights of contributories
Section 297 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
The Tribunal shall adjust the rights of the contributories among themselves and distribute any surplus among the persons entitled thereto.