Amended and updated notes on section 334 of Companies Act 2013. Detail discussion on provisions and rules related to transfers, etc., after commencement of winding up to be void.
Chapter XX (Section 270–365) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up. Section 334 of CA 2013 provides for transfers, etc., after commencement of winding up to be void.
Recently, we have discussed in detail section 333 (Disclaimer of onerous property) of CA 2013. Today, we learn the provisions of section 334 of the Companies Act 2013.
The provisions of section 334 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 334 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. | 334 |
| Section Name | Transfers, etc., after commencement of winding up to be void |
| Monthly Updated Edition | Company Law PDF |
Section 334 of Companies Act 2013: Transfers, etc., after commencement of winding up to be void
Section 334 substituted pursuant to section 255 of the Insolvency and Bankruptcy Code, 2016 vide Notification No. S.O. 3453(E) issued dated 15.11.2016 and shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
In the case of a winding up by the Tribunal, any disposition of the property including actionable claims, of the company and any transfer of shares in the company or alteration in the status of its members, made after the commencement of the winding up shall, unless the Tribunal otherwise orders, be void.