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.”
Access complete Bare Act here. To research Section and sub-section wise judgments, visit here.
Follow for daily updates: