Section 313 of the Companies Act, 2013: Cesser of Board’s powers on appointment of Company Liquidator

The Companies Act, 2013

Chapter– XX Winding Up 

Part II- Voluntary Winding Up 

Section 313: Cesser of Board’s powers on appointment of Company Liquidator.

313. 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:

“313. On the appointment of a Company Liquidator, all the powers of the Board of Directors and of the managing or whole-time directors and manager, if any, shall cease, except for the purpose of giving notice of such appointment of the Company Liquidator to the Registrar.”

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