Section 265 of the Companies Act, 2013: Winding up of company on report of company administrator

The Companies Act, 2013

Chapter-XIX Revival and Rehabilitation of Sick Companies 

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

265. 1[Omitted]


Reference

1. Omitted by the Eleventh Schedule (Sec. 255) to the Insolvency and Bankruptcy Code, 2016, w.e.f. 15.11.2016[S.O. 3453(E) dated 15.11.2016]. Prior to omission, the section stood as under:

265. (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.”

Disclaimer: Please refer Bare Act for original contents. Click here to access All Acts