Contents
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Sections
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Particulars
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Part I
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General
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1
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Short title and commencement
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2
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Interpretation
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3
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Proceedings to be neat and legible
|
4
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Form of proceedings
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5
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Language of proceedings
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6
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Practice and procedure of the Court and provisions of the Code to apply
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7
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Power of Court to enlarge or abridge time
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8
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Computation of time
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9
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Inherent powers of Court
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10
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Applications how made
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11A
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Petitions
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11B
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Judge's summons
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12
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Matters to be heard in open Court and in Chambers
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13
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Registers to be kept
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14
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Serial number of proceedings
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15
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Process to be sealed
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16
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Inspection and copies of proceedings
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17
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Forms
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18
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Affidavits
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19
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Form of Judge's summons and service thereof
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20
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Issue of summons
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21
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Affidavit verifying petition
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22
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Enclosures to petition
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23
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Summons for directions
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24
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Advertisement of petition
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25
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Contents of advertisement
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26
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Service of petition
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27
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Notice of petition and time of service
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28
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Service on company
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29
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Petitioner to effect service
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30
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Affidavit of service
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31
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Procedure on default of compliance as regards advertisement and service of notice
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32
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Mode of service and service when deemed to be effected
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33
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Validity of service and of proceedings
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34
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Notice to be given by persons intending to appear at the hearing of petition
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35
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List of persons, intending to appear, to be filed
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36
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Procedure at hearing of petition
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37
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Order to be drawn up
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Part II
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Proceedings in matters
other than Winding-Up
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38
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Form of petition under section 17 and Summons for directions
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39
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Directions at hearing of summons
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40
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Notice to Registrar of Companies and Central Government
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41
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Procedure where creditors are entitled to object
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42
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Order confirming alteration
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43
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Petition under section 579
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44
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Petition for sanctioning the issue of shares at a discount
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45
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Order sanctioning issue to be delivered to Registrar of Companies
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46
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Form of petition for reduction of share capital and summons for directions
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47
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Procedure on hearing of summons
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48
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Directions at the hearing of summons
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49
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List of creditors
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50
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Affidavit verifying list of creditors
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51
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Inspection of list of creditors
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52
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Notice to creditors
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53
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Advertisement of petition and list of creditors
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54
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Affidavit of service
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55
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Affidavit by company as to the result of rules 52 and 53
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56
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Procedure where claim is not admitted, and proof of debt
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57
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Costs of proof
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58
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Certificate by the Judge as to creditors
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59
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Hearing of petition
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60
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Who may appear and oppose
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61
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Directions at hearing
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62
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Order on petition
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63
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Minute
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64
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Advertisement of reasons for reduction of capital
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65
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Form of minute and notice of registration
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66
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Petition to cancel variation of rights
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67
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Summons for directions to convene a meeting
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68
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Service on company
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69
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Directions at hearing of summons
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70
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Proxies
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71
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Application for stay
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72
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Application to vacate or vary order of stay
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73
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Notice of meeting
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74
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Advertisement of the notice of meeting
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75
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Copy of compromise or arrangement to be furnished by the company
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76
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Affidavit of service
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77
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Result of the meeting to be decided by poll
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78
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Report of the result of the meeting
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79
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Petition for confirming compromise or arrangement
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80
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Date and notice of hearing
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81
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Order on petition
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82
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Application for directions under section 394
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83
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Directions at hearing of applications
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84
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Order under section 394
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85
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Compromise or arrangement involving reduction of capital
|
86
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Report on working of compromise or arrangement
|
87
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Liberty to apply
|
88
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Petition under section 397 or 398
|
89
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Notice to Central Government
|
90
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Order involving reduction of capital or alteration of memorandum
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91
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Application under section 407(1)(b) for leave to act as managing director, etc.
|
92
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Notice to Registrar of Companies
|
93
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Delivery of order and advertisement thereof
|
94
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Registrar's costs of petition
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Part III
|
Winding-Up
|
95
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Petition for winding-up
|
96
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Admission of petition and directions as to advertisement
|
97
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Petition by a contingent or prospective creditor
|
98
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Copy of petition to be furnished
|
99
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Advertisement of petition
|
100
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Application for leave to withdraw petition
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101
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Substitution of creditor or contributory for original petitioner
|
102
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Procedure on substitution
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103
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Affidavit in opposition
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104
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Affidavit in reply
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105
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Stay of suit or proceeding pending petition
|
106
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Appointment of Provisional Liquidator
|
107
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Rules applicable to Provisional Liquidator
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108
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Costs, etc., of Provisional Liquidator
|
109
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Notice to Official Liquidator of order
|
110
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Contents of winding-up order and order appointing Provisional Liquidator
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111
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Order to he sent to Official Liquidator and form of order
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112
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Directions on making the winding-up order
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113
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Advertisement of the order
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114
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Official Liquidator to take charge of assets and books and papers of company
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115
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Form of proceedings after winding-up order is made
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116
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Application for stay of winding-up proceedings
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117
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Application for leave to commence or continue suit or proceeding
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118
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Application for transfer of suit or proceeding
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119
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Application for transfer
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120
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Transmission of records upon transfer of proceeding
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121
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Proceedings to be re-numbered
|
122
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Notice to Official Liquidator
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123
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Official Liquidator of Transferee Court to be Liquidator
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124
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Notice to submit statement
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125
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Application by Official Liquidator under section 454(2)
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126
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Preparation of statement of affairs
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127
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Form of the statement
|
128
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Extension of time for submitting statement
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129
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Expenses of preparing the statement
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130
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Officers of company to attend and give information
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131
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Duty of person making or concurring in statement
|
132
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Default in complying with section 454
|
133
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Dispensing with statement of affairs
|
134
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Liquidator in voluntary winding-up or winding-up subject to supervision, to submit statement
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135
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Preliminary report by Official Liquidator
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136
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Inspection of statement and preliminary report
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137
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Further report by Official Liquidator
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138
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Consideration of report by Court
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139
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Summons for directions to be taken out by Official Liquidator
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140
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First meeting of creditors and contributories
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141
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Official Liquidator to report result of meeting and apply for directions
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142
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Application for order not to fill vacancy in Committee
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143
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Liquidator and members of the Committee dealing with company's assets
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144
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Committee of Inspection not to make profit
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145
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Costs of obtaining sanction of Court
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146
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Order sanctioning payment to Committee
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147
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Fixing a date for proving debts
|
148
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Notice to creditors
|
149
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Proof of debt
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150
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Mode of proof and verification thereof
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151
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Contents of proof
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152
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Workmen's wages
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153
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Production of bills of exchange and promissory notes
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154
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Value of debts
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155
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Discount
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156
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Interest
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157
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Periodical payments
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158
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Proof of debt payable at a future time
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159
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Examination of proof
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160
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Official Liquidator's right to summon any person in connection with the investigation
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161
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Oaths
|
162
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Costs of proof
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163
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Acceptance or rejection of proof to be communicated
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164
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Appeal by creditor
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165
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Procedure where creditor appeals
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166
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Official Liquidator not to be personally liable for costs
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167
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Proofs and list of creditors to be filed in Court
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168
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List of creditors not to be varied
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169
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Notice of filing the list and inspection of the same
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170
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Procedure in the District Court regarding proof of claims
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171
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List of proofs and summons for directions
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172
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Direction at hearing of summons
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173
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Notice to be given to creditors
|
174
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Settlement of list of creditors
|
175
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Inspection of the list of creditors and the proofs filed
|
176
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Expunging of proof
|
177
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Procedure on failure to prove the debt within the time fixed
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178
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Right of creditor who has not proved debt before declaration of dividend
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179
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Payment of subsequent interest
|
180
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Provisional list of contributories
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181
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Notice to be given of date of settlement of list
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182
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Settlement of the list
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183
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Certificate of final settlement to be filed in Court
|
184
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Notice of settlement to contributories
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185
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Supplemental list of contributories
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186
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Variation of the list
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187
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Application by Official Liquidator for rectification of list
|
188
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Application by contributory to vary the list
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189
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Official Liquidator not to be personally liable for costs
|
190
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Settlement of the list of contributories in District Courts
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191
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Notice to be given of date of settlement
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192
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Settlement of the list
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193
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Supplemental list of contributories
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194
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Application for rectification of list
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195
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List of contributories consisting of past members
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196
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List of contributories under section 104(1)(b)
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197
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'Court meetings', 'Liquidator's meetings' and 'Voluntary Liquidation meetings'
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198
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Application of rules to meetings
|
199
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Notice of meeting
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200
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Place and time of meeting
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201
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Notice of first or other meeting to officers of company
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202
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Proof of notice
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203
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Costs of calling meetings at the instance of creditor or contributory
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204
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Chairman of meeting
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205
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Resolution of creditors' meeting
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206
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Resolution on contributories' meeting
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207
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Copy of resolution to be filed
|
208
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Non-receipt of notice by a creditor or contributory
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209
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Adjournments
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210
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Quorum
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211
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Procedure in the absence of quorum
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212
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When creditor can vote
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213
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Cases to which creditors may not vote
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214
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When secured creditor can vote
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215
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Effect of voting by a secured creditor
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216
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Procedure when secured creditor votes without surrendering security
|
217
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Admission or rejection of proofs for purposes of voting
|
218
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Minutes of proceedings
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219
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Report of Court meetings
|
220
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Voting by proxies
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221
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Form of proxies
|
222
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Proxies to Liquidator or Chairman
|
223
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Use of proxies by deputy
|
224
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Forms to be sent with notice
|
225
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Proxies to be lodged
|
226
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Holder of proxy not to vote on matter in which he is financially interested
|
227
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Minor not to be appointed proxy
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228
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Filling in proxy where creditor or contributory is blind or incapable
|
229
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Proxy of person not acquainted with English
|
230
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Attendance at proceedings
|
231
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Representation of creditors and contributories before Court
|
232
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Powers of Official Liquidator
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233
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Official Liquidator to be in the position of a Receiver
|
234
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Company's property to be surrendered to Official Liquidator on requisition
|
235
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Calls by the Official Liquidator
|
236
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Official Liquidator to realize uncalled capital
|
237
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Application for leave to make call
|
238
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Notice of application
|
239
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Order granting leave to make a call and document making the call
|
240
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Service of notice of call
|
241
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Order for payment of call
|
242
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Other moneys due by contributories
|
243
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Application for examination under section 477
|
244
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Directions at hearing of summons
|
245
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Examination on commission or by interrogatories
|
246
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Service of the summons
|
247
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Conduct of the examination
|
248
|
Notes of the deposition
|
249
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Order for public examination under section 478
|
250
|
Notice of public examination
|
251
|
Adjournment of public examination to Court
|
252
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Procedure for contumacy Procedure for contumacy
|
253
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Notes of examination
|
254
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Shorthand notes of examination under sections 477 and 478
|
255
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Application under section 478(7)(a)
|
256
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Default in attending examination under section 477 or 478
|
257
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Prison to which person arrested on warrant is to be taken
|
258
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Execution of warrant of arrest outside ordinary jurisdiction of Court
|
259
|
Public examination under section 519
|
260
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Applications under section 542 or 543
|
261
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Directions at preliminary hearing of summons
|
262
|
Liberty to apply for further directions
|
263
|
Application for disclaimer
|
264
|
Preliminary hearing of the summons
|
265
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Claimant to furnish statement of his interest
|
266
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Service of notice
|
267
|
Order granting leave to disclaim
|
268
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Disclaimer to be filed in Court
|
269
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Vesting of disclaimed property
|
270
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No claim to be compromised or abandoned without sanction of Court
|
271
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Application for sanction of compromise
|
272
|
Sale to be subject to sanction and to confirmation by Court
|
273
|
Procedure at sale
|
274
|
Expenses of sale
|
275
|
Declaration of dividend or return of capital
|
276
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Notice of declaration
|
277
|
Form of authority to pay dividend
|
278
|
Transmission of dividends by post
|
279
|
Form of order directing return of capital
|
280
|
Payment of dividend or return of capital due to a deceased creditor or contributory
|
281
|
Official Liquidator to apply for dissolution
|
282
|
Dissolution of the company
|
283
|
Liquidator to pay the balance into public account
|
284
|
Conclusion of winding-up
|
285
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Application to declare dissolution void
|
286
|
Registers and Books to be maintained by the Official Liquidator
|
287
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All moneys to be paid into the Reserve Bank
|
288
|
Bills, cheques and securities to be deposited into Bank
|
289
|
Payments into Bank under section 471
|
290
|
Official Liquidator's Dividend Account
|
291
|
Fees to be credited to Central Government
|
292
|
Where the company has no available assets
|
293
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Investment of moneys
|
294
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Official Liquidator to examine the accounts for purposes of investment
|
295
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Investments to be made by the Bank
|
296
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Dividend and interest to be credited
|
297
|
Refunds of Income-tax
|
298
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Half-yearly accounts to be filed
|
299
|
Form of account
|
300
|
Nil account
|
301
|
Registrar to send copy of account to the auditor
|
302
|
Audit of the Official Liquidator's accounts
|
303
|
Audit certificate to be filed
|
304
|
Audit fees
|
305
|
Inspection of the account and certificate of audit
|
306
|
Account and auditor's report to be placed before Judge
|
307
|
Legal assistance for the Official Liquidator
|
308
|
Employment of additional or special staff
|
309
|
Apportionment of expenses of common staff
|
310
|
Applications under sections 463(2) and 545(3)
|
311
|
Annual Statement by the Official Liquidator under section 551
|
312
|
Applicability of Rules
|
313
|
Declaration of solvency in a members' voluntary winding-up
|
314
|
Statement to be laid before meeting of creditors under section 495(1)
|
315
|
Notice of appointment of liquidator
|
316
|
Order for winding-up subject to supervision
|
317
|
Security by liquidator appointed by Court
|
318
|
Limit of remuneration of liquidator
|
319
|
Restriction on purchase of goods by liquidator
|
320
|
Office of liquidator vacated by his insolvency
|
321
|
Resignation of liquidator
|
322
|
Duty of liquidator upon resignation
|
323
|
Books to be kept by the liquidator
|
324
|
Banking account of the liquidator
|
325
|
Bills, cheques and securities to be deposited in Bank
|
326
|
Investment of surplus funds
|
327
|
Liquidator's statements under section 551
|
328
|
Annual statement under sections 496 (1) (b) and 508 (1) (b)
|
329
|
Notice convening final meeting and the account to be laid before the meeting
|
330
|
Consideration by Court of the statements under section 551 and the final account, in a winding-up subject to the supervision of the Court
|
331
|
Returns to Registrar of Companies
|
332
|
Inspection by creditor or contributory of statements filed by liquidator
|
333
|
Audit of the liquidator's accounts
|
334
|
Applications under section 518
|
335
|
Statement to accompany payment
|
336
|
Unclaimed dividends or undistributed assets under investment
|
337
|
Application by person for payment of money paid into the Companies Liquidation Account
|
338
|
Cost and expenses payable out of the assets in a winding-up by the Court
|
339
|
Taxation of costs in
Bombay, Calcutta and Madras
|
340
|
Registrar to be Taxing Officer
|
341
|
Costs in the discretion of the Court
|
342
|
Costs to be taxed in accordance with the practice and procedure of the Court
|
343
|
All proper charges to be allowed
|
344
|
Contents of bill of costs
|
345
|
Vouchers to be filed
|
346
|
Time for lodging bill
|
347
|
Bill of costs by advocate or other person employed by Official Liquidator
|
348
|
Scale of advocates' fees
|
349
|
Fees in misfeasance proceedings
|
350
|
Fees when proceeding is compromised
|
351
|
Fees to more than one advocate
|
352
|
Costs of parties having common interest
|
353
|
Court's power to fix a fee
|
354
|
Reference to Judge in Chambers
|
355
|
Allowance to witness
|
356
|
Taxation between advocate and client
|
357
|
Review of Taxation
|
358
|
Appeal against Review
|
359
|
Certificate of Taxation
|
360
|
Inspection of file
|
361
|
Saving of rules under Special Acts
|
|
Foot Notes
|