Arrange the following in the winding up process of a company by tribunal in chronological sequence from…
Under Chapter XX of the Companies Act, 2013, the chronological sequence for compulsory winding up by the National Company Law Tribunal (NCLT) is: (c) Filing of Petition for…
Choose your answer
Arrange the following in the winding up process of a company by tribunal in chronological sequence from the first to the last.
a. Settlement of list of contributories and application of assets.
b. Submission of report by company liquidator.
c. Petition for winding up.
d. Direction of Tribunal on report of company liquidator.
e. Appointment of company liquidator.
Answer and explanation
Correct answer C
Under Chapter XX of the Companies Act, 2013, the chronological sequence for compulsory winding up by the National Company Law Tribunal (NCLT) is: (c) Filing of Petition for winding up (Sec. 272) → (e) Appointment of Company Liquidator (Sec. 275) → (b) Submission of preliminary report by the Company Liquidator (Sec. 281) → (d) Directions of the Tribunal on the liquidator's report (Sec. 282) → (a) Settlement of list of contributories and application of assets (Sec. 285). Thus, 'c, e, b, d, a' is correct.
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UGC NET Commerce