Companies Act Section 281: Submission of report by Company Liquidator.

THE COMPANIES ACT, 2013

ACT NO. 18 OF 2013

COMPANIES ACT 2013 SECTION 281 CHAPTER XX

WINDING UP

 

Submission of report by Company Liquidator.— (1) Where the Tribunal has made a winding up order or appointed a Company Liquidator, such liquidator shall, within sixty days from the order, submit to the Tribunal, a report containing the following particulars, namely:—

(a) the nature and details of the assets of the company including their location and value, stating separately the cash balance in hand and in the bank, if any, and the negotiable securities, if any, held by the company:

Provided that the valuation of the assets shall be obtained from registered valuers for this purpose;

(b) amount of capital issued, subscribed and paid-up;

(c) the existing and contingent liabilities of the company including names, addresses and occupations of its creditors, stating separately the amount of secured and unsecured debts, and in the case of secured debts, particulars of the securities given, whether by the company or an officer thereof, their value and the dates on which they were given;

(d) the debts due to the company and the names, addresses and occupations of the persons from whom they are due and the amount likely to be realised on account thereof;

(e) guarantees, if any, extended by the company;

(f) list of contributories and dues, if any, payable by them and details of any unpaid call;

(g) details of trade marks and intellectual properties, if any, owned by the company;

(h) details of subsisting contracts, joint ventures and collaborations, if any;

(i) details of holding and subsidiary companies, if any;

(j) details of legal cases filed by or against the company; and

(k) any other information which the Tribunal may direct or the Company Liquidator may consider necessary to include.

(2) The Company Liquidator shall include in his report the manner in which the company was promoted or formed and whether in his opinion any fraud has been committed by any person in its promotion or formation or by any officer of the company in relation to the company since the formation thereof and any other matters which, in his opinion, it is desirable to bring to the notice of the Tribunal.

(3) The Company Liquidator shall also make a report on the viability of the business of the company or the steps which, in his opinion, are necessary for maximising the value of the assets of the company.

(4) The Company Liquidator may also, if he thinks fit, make any further report or reports.

(5) Any person describing himself in writing to be a creditor or a contributory of the company shall be entitled by himself or by his agent at all reasonable times to inspect the report submitted in accordance with this section and take copies thereof or extracts therefrom on payment of the prescribed fees.

Tags: companies act 2013 section 281 CHAPTER XX, companies act 2013, companies act chapter xx, company act section 281, submission of report by company liquidator.



Finance Bazaar

FinanceBazaar is building one of India’s largest financial services marketplace for SMEs and Startups. We understand the financial needs of startups, right from Company Registration to Fundraising, Debt Financing to Investor Relations Management, and managing Government Compliances. To help SMEs and Startups start, manage, and grow their business, we have a panel of Chartered Accountants (CAs) from across India. We bring you all of the services that a startup requires such as Company Registration, Trademark, ISO, FSSAI License, Startup India Registration, GST Registration, and Returns and everything at one place.

Related Blogs



Annual Compliance calendar for Unlisted Companies for FY 2020-21 (Companies Act, 2013). DIR-8, MBP-1, E-form MSME-1, E-form DIR-3 KYC, E-form DPT-3, BEN-1, E-form BEN-2, E-form PAS-6, E-form FC-3, E-form FC-4, E-form, AOC-4 (CFS) (XBRL), E-form, MGT-7, E-form CRA-2, E-form CRA-4 (XBRL).

Read more