Amended and updated notes on section 377 of Companies Act 2013. Detail discussion on provisions and rules related to provisions of Chapter cumulative.
Chapter XXI PART-2 (Section 375–378) of the Companies Act, 2013 (CA 2013) deals with the provisions related to winding up of unregistered companies. Section 377 of CA 2013 provides for provisions of Chapter cumulative.
Recently, we have discussed in detail section 376 (Power to wind up foreign companies, although dissolved) of CA 2013. Today, we learn the provisions of section 377 of the Companies Act 2013.
The provisions of section 377 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 377 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. | XXI (PART-II) |
| Chapter Name | Winding up of unregistered Companies |
| Section No. | 377 |
| Section Name | Provisions of Chapter cumulative |
| Monthly Updated Edition | Company Law PDF |
Section 377 of Companies Act 2013: Provisions of Chapter cumulative
Section 377 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
(1) The provisions of this Part, with respect to unregistered companies shall be in addition to and not in derogation of, any provisions hereinbefore in this Act contained with respect to the winding up of companies by the Tribunal.
(2) The Tribunal or Official Liquidator may exercise any powers or do any act in the case of unregistered companies which might be exercised or done by the Tribunal or Official Liquidator in winding up of companies formed and registered under this Act:
Provided that an unregistered company shall not, except in the event of its being wound up, be deemed to be a company under this Act, and then only to the extent provided by this Part.