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Companies Act, 2013

265. Winding up of company on report of company administrator.

1.      If the scheme is not approved by the creditors in the manner specified in sub-section (2 ) of section 262, the company administrator shall submit a report to the Tribunal within fifteen days and the Tribunal shall order for the winding up of the sick company.

2.      On the passing of an order under sub-section (1 ), the Tribunal shall conduct the proceedings for winding up of the sick company in accordance with the provisions of Chapter XX.

Companies Act, 2013 Back

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