In force · As amended up to 2026-08
36. In section 468, for sub-section (2), the following sub-section shall be substituted, namely:—
"(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:—
(i) as to the mode of proceedings to be held for winding up of a company by the Tribunal under this Act;
(ii) for the holding of meetings of creditors and members in connection with proceedings under section 230;
(iii) for giving effect to the provisions of this Act as to the reduction of the capital;
(iv) generally for all applications to be made to the Tribunal under the provisions of this Act;
(v) the holding and conducting of meetings to ascertain the wishes of creditors and contributories;
(vi) the settling of lists of contributories and the rectifying of the register of members where required, and collecting and applying the assets;
(vii) the payment, delivery, conveyance, surrender or transfer of money, property, books or papers to the liquidator;
(viii) the making of calls; and
(ix) the fixing of a time within which debts and claims shall be proved.".
6. After section 19, the following section shall be inserted, namely:—
"19A. The application made to Tribunal for exercising the powers of the Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016 shall be dealt with in the manner as provided under that Code.".
6. In section 224, in sub-section (2), after the words "wound up under this Act", the words and figures "or under the Insolvency and Bankruptcy Code, 2016" shall be inserted.
Source: India Code