Companies Act

8,793 indexed judgments cite this act. Sections below link to the judgments in the corpus that rely on them, alongside a recently decided selection.

Browse courts & years · Follow cited cases · Research topics

Sections in the index

Section 1Subs. by Act 31 of 2016, s. 255 and the Eleventh Schedule, for section 326 (w.e.f. 15-11-2016).
Section 2Subs. by Notification No. G.S.R. (E), dated 11th October, 2018, for “fixed assets” (w.e.f. 11-10-2018).
Section 3Subs. by ibid., for “V. Loans” (w.e.f. 11-10-2018).
Section 4The words “with imprisonment for a term which may extend to three years or” omitted by Act 29 of 2020, s. 6 (w.e.f. 21-12-
Section 5Ins. by Act 1 of 2018, s. 67 (w.e.f. 12-9-2018).
Section 6Financial Statements shall contain the corresponding amounts (comparatives) for the immediately preceding
Section 7Field operations (above ground) Portable boilers, drilling tools,
Section 8Subs. by s. 38, ibid., for “Provided that” (w.e.f. 9-2-2018).
Section 9(i) The company shall have a first and paramount lien—
Section 10The company may sell, in such manner as the Board thinks fit, any shares on which the company has a lien:
Section 11[Commencement of business, etc.] Omitted by the Companies (Amendment) Act, 2015 (21 of
Section 12No member shall be entitled to vote at any general meeting unless all sums presently payable by him to the
Section 13Alteration of memorandum.—(1) Save as provided in section 61, a company may, by a special
Section 14Alteration of articles.—(1) Subject to the provisions of this Act and the conditions contained in
Section 15The joint holders of a share shall be jointly and severally liable to pay all calls in respect thereof.
Section 16Any business other than that upon which a poll has been demanded may be proceeded with, pending the
Section 17The number of the directors and the names of the first directors shall be determined in writing by the
Section 18Conversion of companies already registered.—(1) A company of any class registered under this
Section 19Subsidiary company not to hold shares in its holding company.—(1) No company shall, either
Section 20The Board may, subject to the right of appeal conferred by section 58 decline to register—
Section 21The continuing directors may act notwithstanding any vacancy in the Board; but, if and so long as their number
Section 22Execution of bills of exchange, etc.
Section 23(i) On the death of a member, the survivor or survivors where the member was a joint holder, and his nominee
Section 24Power of Securities and Exchange Board to regulate issue and transfer of securities, etc.
Section 25(i) A committee may meet and adjourn as it thinks proper.
Section 26Matters to be stated in prospectus.—(1) Every prospectus issued by or on behalf of a public
Section 27In case of a One Person Company—
Section 28Subject to the provisions of the Act,—
Section 29A provision of the Act or these regulations requiring or authorising a thing to be done by or to a director and
Section 30(i) The Board shall provide for the safe custody of the seal.
Section 31Shelf prospectus.—(1) Any class or classes of companies, as the Securities and Exchange Board
Section 32Red herring prospectus.—(1) A company proposing to make an offer of securities may issue a
Section 33Issue of application forms for securities.—(1) No form of application for the purchase of any of
Section 34Criminal liability for mis-statements in prospectus.—Where a prospectus, issued, circulated or
Section 35Civil liability for mis-statements in prospectus.—(1) Where a person has subscribed for securities
Section 36Subject to the provisions of section 61, the company may, by ordinary resolution,—
Section 37Where shares are converted into stock,—
Section 38The company may, by special resolution, reduce in any manner and with, and subject to, any incident
Section 39Allotment of securities by company.—(1) No allotment of any securities of a company offered to
Section 40(i) Whenever such a resolution as aforesaid shall have been passed, the Board shall—
Section 41Global depository receipt.—A company may, after passing a special resolution in its general
Section 42All general meetings other than annual general meeting shall be called extraordinary general meeting.
Section 43Kinds of share capital.—The share capital of a company limited by shares shall be of two kinds,
Section 44(i) No business shall be transacted at any general meeting unless a quorum of members is present at the time
Section 45Numbering of shares.—Every share in a company having a share capital shall be distinguished by
Section 46Certificate of shares.—(1) A certificate, 1[issued under the common seal, if any, of the company
Section 47Voting rights.—(1) Subject to the 2[provisions of section 43, sub-section (2) of section 50 and sub-
Section 48In case of a One Person Company—
Section 49Calls on shares of same class to be made on uniform basis.—Where any calls for further share
Section 50Subject to any rights or restrictions for the time being attached to any class or classes of shares,—
Section 51A member may exercise his vote at a meeting by electronic means in accordance with section 108 and shall
Section 52(i) In the case of joint holders, the vote of the senior who tenders a vote, whether in person or by proxy, shall
Section 53A member of unsound mind, or in respect of whom an order has been made by any court having jurisdiction
Section 54Any business other than that upon which a poll has been demanded may be proceeded with, pending the
Section 55Issue and redemption of preference shares.—(1) No company limited by shares shall, after the
Section 56(i) No objection shall be raised to the qualification of any voter except at the meeting or adjourned meeting
Section 57Punishment for personation of shareholder.—If any person deceitfully personates as an owner
Section 58Refusal of registration and appeal against refusal.—(1) If a private company limited by shares
Section 59Rectification of register of members.—(1) If the name of any person is, without sufficient cause,
Section 60The number of the directors and the names of the first directors shall be determined in writing by the
Section 61Power of limited company to alter its share capital.—(1) A limited company having a share
Section 62The Board may pay all expenses incurred in getting up and registering the company.
Section 63The company may exercise the powers conferred on it by section 88 with regard to the keeping of a foreign
Section 64All cheques, promissory notes, drafts, hundis, bills of exchange and other negotiable instruments, and all
Section 65Unlimited company to provide for reserve share capital on conversion into limited company.
Section 66(i) Subject to the provisions of section 149, the Board shall have power at any time, and from time to time, to
Section 67Restrictions on purchase by company or giving of loans by it for purchase of its shares.
Section 68Power of company to purchase its own securities.—(1) Notwithstanding anything contained in
Section 69The continuing directors may act notwithstanding any vacancy in the Board; but, if and so long as their number
Section 70(i) The Board may elect a Chairperson of its meetings and determine the period for which he is to hold office.
Section 71(i) The Board may, subject to the provisions of the Act, delegate any of its powers to committees consisting
Section 72Power to nominate.—(1) Every holder of securities of a company may, at any time, nominate, in
Section 73(i) A committee may meet and adjourn as it thinks fit.
Section 74All acts done in any meeting of the Board or of a committee thereof or by any person acting as a director,
Section 75Damages for fraud.—(1) Where a company fails to repay the deposit or part thereof or any interest
Section 76Acceptance of deposits from public by certain companies.—(1) Notwithstanding anything
Section 77Subject to the provisions of the Act,—
Section 78Application for registration of charge.—Where a company fails to 3[register the charge within
Section 79(i) The Board shall provide for the safe custody of the seal.
Section 80The company in general meeting may declare dividends, but no dividend shall exceed the amount
Section 81Register of charges to be kept by Registrar.—(1) The Registrar shall, in respect of every
Section 82(i) The Board may, before recommending any dividend, set aside out of the profits of the company such sums
Section 83Power of Registrar to make entries of satisfaction and release in absence of intimation from
Section 84The Board may deduct from any dividend payable to any member all sums of money, if any, presently payable
Section 85(i) Any dividend, interest or other monies payable in cash in respect of shares may be paid by cheque or
Section 86Any one of two or more joint holders of a share may give effective receipts for any dividends, bonuses or
Section 87Notice of any dividend that may have been declared shall be given to the persons entitled to share therein in
Section 88Register of members, etc.—(1) Every company shall keep and maintain the following registers in
Section 89Declaration in respect of beneficial interest in any share.—(1) Where the name of a person is
Section 90Subject to the provisions of Chapter XX of the Act and rules made thereunder—
Section 91Power to close register of members or debenture-holders or other security holders.—(1) A
Section 92Annual return.—(1) Every company shall prepare a return (hereinafter referred to as the annual
Section 93[Return to be filed with Registrar in case promoter’s stake changes.] Omitted by the Companies Act,
Section 94Place of keeping and inspection of registers, returns, etc.—(1) The registers required to be kept and
Section 95Registers, etc., to be evidence.—The registers, their indices and copies of annual returns
Section 96Annual general meeting.—(1) Every company other than a One Person Company shall in each
Section 97Power of Tribunal to call annual general meeting.—(1) If any default is made in holding the
Section 98Power of Tribunal to call meetings of members, etc.—(1) If for any reason it is impracticable to
Section 99Punishment for default in complying with provisions of sections 96 to 98.—If any default is
Section 100Calling of extraordinary general meeting.—(1) The Board may, whenever it deems fit, call an
Section 101Notice of meeting.—(1) A general meeting of a company may be called by giving not less than
Section 102Statement to be annexed to notice.—(1) A statement setting out the following material facts
Section 103Quorum for meetings.—(1) Unless the articles of the company provide for a larger number,—
Section 104Chairman of meetings.—(1) Unless the articles of the company otherwise provide, the members
Section 105Proxies.—(1) Any member of a company entitled to attend and vote at a meeting of the company
Section 106Restriction on voting rights.—(1) Notwithstanding anything contained in this Act, the articles of
Section 107Voting by show of hands.—(1) At any general meeting, a resolution put to the vote of the meeting
Section 108Voting through electronic means.—The Central Government may prescribe the class or classes
Section 109Demand for poll.—(1) Before or on the declaration of the result of the voting on any resolution
Section 110Postal ballot.—(1) Notwithstanding anything contained in this Act, a company—
Section 111Circulation of members’ resolution.—(1) A company shall, on requisition in writing of such
Section 112Representation of President and Governors in meetings.—(1) The President of India or the
Section 113Representation of corporations at meeting of companies and of creditors.—(1) A body
Section 114Ordinary and special resolutions.—(1) A resolution shall be an ordinary resolution if the notice
Section 115Resolutions requiring special notice.—Where, by any provision contained in this Act or in the
Section 116Resolutions passed at adjourned meeting.—Where a resolution is passed at an adjourned
Section 117Resolutions and agreements to be filed.—(1) A copy of every resolution or any agreement, in
Section 118Minutes of proceedings of general meeting, meeting of Board of Directors and other meeting
Section 119Inspection of minute-books of general meeting.—(1) The books containing the minutes of the
Section 120Maintenance and inspection of documents in electronic form.—Without prejudice to any other
Section 121Report on annual general meeting.—(1) Every listed public company shall prepare in the
Section 122Applicability of this Chapter to One Person Company.
Section 123Declaration of dividend.—(1) No dividend shall be declared or paid by a company for any
Section 124Unpaid Dividend Account.—(1) Where a dividend has been declared by a company but has not
Section 125Investor Education and Protection Fund.—(1) The Central Government shall establish a Fund
Section 126Right to dividend, rights shares and bonus shares to be held in abeyance pending registration of
Section 127Punishment for failure to distribute dividends.—Where a dividend has been declared by a
Section 128Books of account, etc., to be kept by company.—(1) Every company shall prepare and keep at
Section 129Financial statement.—(1) The financial statements shall give a true and fair view of the state of
Section 130Re-opening of accounts on court’s or Tribunal’s orders.—(1) A company shall not re-open its
Section 131Voluntary revision of financial statements or Board’s report.—(1) If it appears to the directors
Section 132Constitution of National Financial Reporting Authority.—(1) The Central Government may,
Section 133Central Government to prescribe accounting standards.—The Central Government may
Section 134Financial statement, Board’s report, etc.— 2[(1) The financial statement, including consolidated
Section 135Corporate Social Responsibility.—(1) Every company having net worth of rupees five hundred
Section 136Right of member to copies of audited financial statement.—(1) 7*** a copy of the financial
Section 137Copy of financial statement to be filed with Registrar.—(1) A copy of the financial statements,
Section 138Internal audit.—(1) Such class or classes of companies as may be prescribed shall be required
Section 139Appointment of auditors.—(1) Subject to the provisions of this Chapter, every company shall,
Section 140Removal, resignation of auditor and giving of special notice.—(1) The auditor appointed under
Section 141Eligibility, qualifications and disqualifications of auditors.—(1) A person shall be eligible for
Section 142Remuneration of auditors.—(1) The remuneration of the auditor of a company shall be fixed in
Section 143Powers and duties of auditors and auditing standards.—(1) Every auditor of a company shall
Section 144Auditor not to render certain services.—An auditor appointed under this Act shall provide to
Section 145Auditor to sign audit reports, etc.—The person appointed as an auditor of the company shall
Section 146Auditors to attend general meeting.—All notices of, and other communications relating to, any
Section 147Punishment for contravention.—(1) If any of the provisions of sections 139 to 146 (both
Section 148Central Government to specify audit of items of cost in respect of certain companies.
Section 149Company to have Board of Directors.—(1) Every company shall have a Board of Directors
Section 150Manner of selection of independent directors and maintenance of data bank of independent
Section 151Appointment of director elected by small shareholders.—A listed company may have one
Section 152Appointment of directors.—(1) Where no provision is made in the articles of a company for the
Section 153Application for allotment of Director Identification Number.—Every individual intending to
Section 154Allotment of Director Identification Number.—The Central Government shall, within one
Section 155Prohibition to obtain more than one Director Identification Number.—No individual, who
Section 156Director to intimate Director Identification Number.—Every existing director shall, within one
Section 157Company to inform Director Identification Number to Registrar.—(1) Every company shall,
Section 158Obligation to indicate Director Identification Number.—Every person or company, while
Section 159Punishment for contravention
Section 160Right of persons other than retiring directors to stand for directorship.— (1) A person who
Section 161Appointment of additional director, alternate director and nominee director.—(1) The
Section 162Appointment of directors to be voted individually.—(1) At a general meeting of a company, a
Section 163Option to adopt principle of proportional representation for appointment of directors.
Section 164Disqualifications for appointment of director.—(1) A person shall not be eligible for
Section 165Number of directorships.—(1) No person, after the commencement of this Act, shall hold office
Section 166Duties of directors.—(1) Subject to the provisions of this Act, a director of a company shall act
Section 167Vacation of office of director.—(1) The office of a director shall become vacant in case—
Section 168Resignation of director.—(1) A director may resign from his office by giving a notice in writing
Section 169Removal of directors.—(1) A company may, by ordinary resolution, remove a director, not being
Section 170Register of directors and key managerial personnel and their shareholding.—(1) Every
Section 171Members’ right to inspect.—(1) The register kept under sub-section (1) of section 170,—
Section 172Punishment
Section 173Meetings of Board.—(1) Every company shall hold the first meeting of the Board of Directors
Section 174Quorum for meetings of Board.—(1) The quorum for a meeting of the Board of Directors of a
Section 175Passing of resolution by circulation.—(1) No resolution shall be deemed to have been duly
Section 176Defects in appointment of directors not to invalidate actions taken.—No act done by a person
Section 177Audit Committee.—(1) The Board of Directors of 1[every listed public company] and such other
Section 178Nomination and Remuneration Committee and Stakeholders Relationship Committee.
Section 179Powers of Board.—(1) The Board of Directors of a company shall be entitled to exercise all such
Section 180Restrictions on powers of Board.—(1) The Board of Directors of a company shall exercise the
Section 181Company to contribute to bona fide and charitable funds, etc.—The Board of Directors of a
Section 182Prohibitions and restrictions regarding political contributions.—(1) Notwithstanding
Section 183Power of Board and other persons to make contributions to national defence fund, etc.
Section 184Disclosure of interest by director.—(1) Every director shall at the first meeting of the Board in
Section 185Loan to directors, etc
Section 186Loan and investment by company.—(1) Without prejudice to the provisions contained in this
Section 187Investments of company to be held in its own name.—(1) All investments made or held by a
Section 188Related party transactions.— (1) Except with the consent of the Board of Directors given by a
Section 189Register of contracts or arrangements in which directors are interested.—(1) Every company
Section 190Contract of employment with managing or whole-time director.—(1) Every company shall
Section 191Payment to director for loss of office, etc., in connection with transfer of undertaking, property or shares.
Section 192Restriction on non-cash transactions involving directors.—(1) No company shall enter into an
Section 193Contract by One Person Company.—(1) Where One Person Company limited by shares or by
Section 194[Prohibition on forward dealings in securities of company by director or key managerial
Section 195[Omitted.].
Section 196Appointment of managing director, whole-time director or manager.—(1) No company shall
Section 197Overall maximum managerial remuneration and managerial remuneration in case of absence or
Section 198Calculation of profits.—(1) In computing the net profits of a company in any financial year for
Section 199Recovery of remuneration in certain cases.—Without prejudice to any liability incurred under
Section 200Central Government or company to fix limit with regard to remuneration.—Notwithstanding
Section 201Forms of, and procedure in relation to, certain applications.—(1) Every application made to
Section 202Compensation for loss of office of managing or whole-time director or manager.—(1) A
Section 203Appointment of key managerial personnel.—(1) Every company belonging to such class or
Section 204Secretarial audit for bigger companies.—(1) Every listed company and a company belonging
Section 205Functions of company secretary.—(1) The functions of the company secretary shall include,—
Section 206Power to call for information, inspect books and conduct inquiries.—(1) Where on a scrutiny
Section 207Conduct of inspection and inquiry.—(1) Where a Registrar or inspector calls for the books of
Section 208Report on inspection made.—The Registrar or inspector shall, after the inspection of the books
Section 209Search and seizure.—(1) Where, upon information in his possession or otherwise, the Registrar
Section 210Investigation into affairs of company.—(1) Where the Central Government is of the opinion,
Section 211Establishment of Serious Fraud Investigation Office.—(1) The Central Government shall, by
Section 212Investigation into affairs of company by Serious Fraud Investigation Office.
Section 213Investigation into company’s affairs in other cases.—The Tribunal may,—
Section 214Security for payment of costs and expenses of investigation.—Where an investigation is
Section 215Firm, body corporate or association not to be appointed as inspector.—No firm, body
Section 216Investigation of ownership of company.—(1) Where it appears to the Central Government that
Section 217Procedure, powers, etc., of inspectors.—(1) It shall be the duty of all officers and other
Section 218Protection of employees during investigation.—(1) Notwithstanding anything contained in any
Section 219Power of inspector to conduct investigation into affairs of related companies, etc.
Section 220Seizure of documents by inspector.—(1) Where in the course of an investigation under this
Section 221Freezing of assets of company on inquiry and investigation.—(1) Where it appears to the
Section 222Imposition of restrictions upon securities.—(1) Where it appears to the Tribunal, in connection
Section 223Inspector’s report.—(1) An inspector appointed under this Chapter may, and if so directed by
Section 224Actions to be taken in pursuance of inspector’s report.—(1) If, from an inspector’s report,
Section 225Expenses of investigation.—(1) The expenses of, and incidental to, an investigation by an
Section 226Voluntary winding up of company, etc., not to stop investigation proceedings.
Section 227Legal advisors and bankers not to disclose certain information.—Nothing in this Chapter shall
Section 228Investigation, etc., of foreign companies.—The provisions of this Chapter shall apply mutatis
Section 229Penalty for furnishing false statement, mutilation, destruction of documents.—Where a
Section 230Power to compromise or make arrangements with creditors and members.—(1) Where a
Section 231Power of Tribunal to enforce compromise or arrangement.—(1) Where the Tribunal makes
Section 232Merger and amalgamation of companies.—(1) Where an application is made to the Tribunal
Section 233Merger or amalgamation of certain companies.—(1) Notwithstanding the provisions of section
Section 234Merger or amalgamation of company with foreign company.—(1) The provisions of this
Section 235Power to acquire shares of shareholders dissenting from scheme or contract approved by
Section 236Purchase of minority shareholding.—(1) In the event of an acquirer, or a person acting in concert
Section 237Power of Central Government to provide for amalgamation of companies in public
Section 238Registration of offer of schemes involving transfer of shares.—(1) In relation to every offer of
Section 239Preservation of books and papers of amalgamated companies.—The books and papers of a
Section 240Liability of officers in respect of offences committed prior to merger, amalgamation, etc.—
Section 241Application to Tribunal for relief in cases of oppression, etc.—(1) Any member of a company
Section 242Powers of Tribunal.—(1) If, on any application made under section 241, the Tribunal is of the
Section 243Consequence of termination or modification of certain agreements.—(1) Where an order made
Section 244Right to apply under section 241.—(1) The following members of a company shall have the
Section 245Class action.—(1) Such number of member or members, depositor or depositors or any class of
Section 246Application of certain provisions to proceedings under section 241 or section 245.
Section 247Valuation by registered valuers.—(1) Where a valuation is required to be made in respect of any
Section 248Power of Registrar to remove name of company from register of companies.—(1) Where the
Section 249Restrictions on making application under section 248 in certain situations.
Section 250Effect of company notified as dissolved.—Where a company stands dissolved under section 248,
Section 251Fraudulent application for removal of name.—(1) Where it is found that an application by a
Section 252Appeal to Tribunal.
Section 253[Determination of sickness.] Omitted by the Insolvency and Bankruptcy Code, 2016 (31 of 2016),
Section 254[Application for revival and rehabilitation.] Omitted by s. 255 and the Eleventh Schedule, ibid.
Section 255[Exclusion of certain time in computing period of limitation.] Omitted by s. 255 and the Eleventh
Section 256[Appointment of interim administrator.]Omitted by s. 255 and the Eleventh Schedule, ibid.
Section 257[Committee of creditors.] Omitted by s. 255 and the Eleventh Schedule, ibid. (w.e.f. 15-11-2016).
Section 258[Order of Tribunal.]Omitted by s. 255 and the Eleventh Schedule, ibid. (w.e.f. 15-11-2016).
Section 259[Appointment of administrator.]Omitted by s. 255 and the Eleventh Schedule, ibid. (w.e.f.
Section 260[Powers and duties of company administrator.] Omitted by s. 255 and the Eleventh Schedule, ibid.
Section 261[Scheme of revival and rehabilitation.] Omitted by s. 255 and the Eleventh Schedule, ibid.
Section 262[Sanction of scheme.] Omitted by s. 255 and the Eleventh Schedule, ibid. (w.e.f. 15-11-2016).
Section 263[Scheme to be binding.] Omitted by s. 255 and the Eleventh Schedule, ibid. (w.e.f. 15-11-2016).
Section 264[Implementation of scheme.] Omitted by s. 255 and the Eleventh Schedule, ibid. (w.e.f.
Section 265[Winding up of company on report of company administrator.] Omitted by s. 255 and the Eleventh
Section 266[Power of Tribunal to assess damages against delinquent directors, etc.] Omitted by the Insolvency
Section 267[Punishment for certain offences.] Omitted by s. 255 and the Eleventh Schedule, ibid. (w.e.f.
Section 268[Bar of jurisdiction.] Omitted by s. 255 and the Eleventh Schedule, ibid.(w.e.f. 15-11-2016).
Section 269[Omitted.].
Section 270Modes of winding up
Section 271Circumstances in which company may be wound up by Tribunal
Section 272Petition for winding up
Section 273Powers of Tribunal.—(1) The Tribunal may, on receipt of a petition for winding up under section
Section 274Directions for filing statement of affairs.—(1) Where a petition for winding up is filed before
Section 275Company Liquidators and their appointments.—(1) For the purposes of winding up of a
Section 276Removal and replacement of liquidator.—(1) The Tribunal may, on a reasonable cause being
Section 277Intimation to Company Liquidator, provisional liquidator and Registrar.—(1) Where the
Section 278Effect of winding up order.—The order for the winding up of a company shall operate in favour
Section 279Stay of suits, etc., on winding up order.—(1) When a winding up order has been passed or a
Section 280Jurisdiction of Tribunal
Section 281Submission of report by Company Liquidator.—(1) Where the Tribunal has made a winding
Section 282Directions of Tribunal on report of Company Liquidator.—(1) The Tribunal shall, on
Section 283Custody of company’s properties.—(1) Where a winding up order has been made or where a
Section 284Promoters, directors, etc., to cooperate with Company Liquidator.—(1) The promoters,
Section 285Settlement of list of contributories and application of assets.—(1) As soon as may be after the
Section 286Obligations of directors and managers.—In the case of a limited company, any person who is
Section 287Advisory committee.—(1) The Tribunal may, while passing an order of winding up of a company,
Section 288Submission of periodical reports to Tribunal.—(1) The Company Liquidator shall make
Section 289[Power of Tribunal on application for stay of winding up.] Omitted by the Insolvency and
Section 290Powers and duties of Company Liquidator.—(1) Subject to directions by the Tribunal, if any,
Section 291Provision for professional assistance to Company Liquidator.—(1) The Company Liquidator
Section 292Exercise and control of Company Liquidator’s powers.—(1) Subject to the provisions of this
Section 293Books to be kept by Company Liquidator.—(1) The Company Liquidator shall keep proper
Section 294Audit of Company Liquidator’s accounts.—(1) The Company Liquidator shall maintain proper
Section 295Payment of debts by contributory and extent of set-off.—(1) The Tribunal may, at any time
Section 296Power of Tribunal to make calls.—The Tribunal may, at any time after the passing of a winding
Section 297Adjustment of rights of contributories.—The Tribunal shall adjust the rights of the
Section 298Power to order costs.—The Tribunal may, in the event of the assets of a company being
Section 299Power to summon persons suspected of having property of company, etc.—(1) The Tribunal
Section 300Power to order examination of promoters, directors, etc.—(1) Where an order has been made
Section 301Arrest of person trying to leave India or abscond.—At any time either before or after
Section 302Dissolution of company by Tribunal.—(1) When the affairs of a company have been completely
Section 303Appeals from orders made before commencement of Act.—Nothing in this Chapter shall affect
Section 304[Circumstances in which company may be wound up voluntarily.] Omitted by s. 255 and the
Section 305[Declaration of solvency in case of proposal to wind up voluntarily.] Omitted by s. 255 and the
Section 306[Meeting of creditors.]Omitted by s. 255 and the Eleventh Schedule, ibid. (w.e.f. 15-11-2016).
Section 307[Publication of resolution to wind up voluntarily.] Omitted by s. 255and the Eleventh Schedule,
Section 308[Commencement of voluntary winding up.] Omitted by s. 255 and the Eleventh Schedule, ibid.
Section 309[Effect of voluntary winding up.] Omitted by s. 255 and the Eleventh Schedule, ibid.
Section 310[Appointment of Company Liquidator.] Omitted by s. 255 and the Eleventh Schedule, ibid.
Section 311[Power to remove and fill vacancy of Company Liquidator.] Omitted by s. 255 and the Eleventh
Section 312[Notice of appointment of Company Liquidator to be given to Registrar.]Omitted by s. 255 and the
Section 313[Cesser of Board’s powers on appointment of Company Liquidator.]Omitted by s. 255 and the
Section 314[Powers and duties of Company Liquidator in voluntary winding up.]Omitted by s. 255 and the
Section 315[Appointment of committees.]Omitted by s. 255 and the Eleventh Schedule, ibid.(w.e.f. 15-11-
Section 316[Company Liquidator to submit report on progress of winding up.] Omitted by the Insolvency and
Section 317[Report of Company Liquidator to Tribunal for examination of persons.] Omitted by s. 255 and the
Section 318[Final meeting and dissolution of company.] Omitted by s. 255 and the Eleventh Schedule,
Section 319[Power of Company Liquidator to accept shares, etc., as consideration for sale of property of
Section 320[Distribution of property of company.] Omitted by s. 255 and the Eleventh Schedule, ibid.
Section 321[Arrangement when binding on company and creditors.] Omitted by the Insolvency and
Section 322[Power to apply to Tribunal to have questions determined, etc.] Omitted by s. 255 and the Eleventh
Section 323[Costs of voluntary winding up.]Omitted by s. 255 and the Eleventh Schedule, ibid. (w.e.f.
Section 324Debts of all descriptions to be admitted to proof.— In every winding up (subject, in the case of
Section 325[Application of insolvency rules in winding up of insolvent companies.] Omitted by the Insolvency
Section 326Overriding preferential payments
Section 327Preferential payments.—(1) In a winding up, subject to the provisions of section 326, there shall
Section 328Fraudulent preference.—(1) Where a company has given preference to a person who is one of
Section 329Transfers not in good faith to be void
Section 330Certain transfers to be void.—Any transfer or assignment by a company of all its properties or
Section 331Liabilities and rights of certain persons fraudulently preferred.—(1) Where a company is
Section 332Effect of floating charge.—Where a company is being wound up, a floating charge on the
Section 333Disclaimer of onerous property.—(1) Where any part of the property of a company which is
Section 334Transfers, etc., after commencement of winding up to be void
Section 335Certain attachments, executions, etc., in winding up by Tribunal to be void.
Section 336Offences by officers of companies in liquidation.—(1) If any person, who is or has been an
Section 337Penalty for frauds by officers.—If any person, being at the time of the commission of the alleged
Section 338Liability where proper accounts not kept.—(1) Where a company is being wound up, if it is
Section 339Liability for fraudulent conduct of business.—(1) If in the course of the winding up of a
Section 340Power of Tribunal to assess damages against delinquent directors, etc.—(1) If in the course
Section 341Liability under sections 339 and 340 to extend to partners or directors in firms or
Section 342Prosecution of delinquent officers and members of company.—(1) If it appears to the Tribunal
Section 343Company Liquidator to exercise certain powers subject to sanction.—3[(1) The Company
Section 344Statement that company is in liquidation.—(1) Where a company is being wound up, whether
Section 345Books and papers of company to be evidence.—Where a company is being wound up, all books
Section 346Inspection of books and papers by creditors and contributories.—(1) At any time after the
Section 347Disposal of books and papers of company.—1[(1) When the affairs of a company have been
Section 348Information as to pending liquidations.—4[(1) If the winding up of a company is not concluded
Section 349Official Liquidator to make payments into public account of India.—Every Official
Section 350Company Liquidator to deposit monies into scheduled bank.—(1) Every Company Liquidator
Section 351Liquidator not to deposit monies into private banking account.—Neither the Official
Section 352Company Liquidation Dividend and Undistributed Assets Account.—(1) Where any company
Section 353Liquidator to make returns, etc.—(1) If any Company Liquidator who has made any default in
Section 354Meetings to ascertain wishes of creditors or contributories.—(1) In all matters relating to the
Section 355Court, tribunal or person, etc., before whom affidavit may be sworn.—(1) Any affidavit
Section 356Powers of Tribunal to declare dissolution of company void.—(1) Where a company has been
Section 357Commencement of winding up by Tribunal
Section 358Exclusion of certain time in computing period of limitation.
Section 359Appointment of Official Liquidator.—(1) For the purposes of this Act, so far as it relates to the
Section 360Powers and functions of Official Liquidator.—(1) The Official Liquidator shall exercise such
Section 361Summary procedure for liquidation.—(1) Where the company to be wound up under this
Section 362Sale of assets and recovery of debts due to company.—(1) The Official Liquidator shall
Section 363Settlement of claims of creditors by Official Liquidator.—(1) The Official Liquidator within
Section 364Appeal by creditor.—(1) Any creditor aggrieved by the decision of the Official Liquidator under
Section 365Order of dissolution of company.
Section 366Companies capable of being registered.—(1) For the purposes of this Part, the word “company”
Section 367Certificate of registration of existing companies.—On compliance with the requirements of this
Section 368Vesting of property on registration.—All property, movable and immovable (including
Section 369Saving of existing liabilities.—The registration of a company in pursuance of this Part shall not
Section 370Continuation of pending legal proceedings.—All suits and other legal proceedings taken by or
Section 371Effect of registration under this Part.—(1) When a company is registered in pursuance of this
Section 372Power of Court to stay or restrain proceedings.—The provisions of this Act 1[or of the
Section 373Suits stayed on winding up order.—Where an order has been made for winding up, or a
Section 374Obligations of companies registering under this Part.—Every company which is seeking
Section 375Winding up of unregistered companies.—(1) Subject to the provisions of this Part, any
Section 376Power to wind up foreign companies, although dissolved.— Where a body corporate
Section 377Provisions of Chapter cumulative.—(1) The provisions of this Part, with respect to unregistered
Section 378Saving and construction of enactments conferring power to wind up partnership firm,
Section 379Application of Act to foreign companies.—1[(1) Sections 380 to 386 (both inclusive) and sections
Section 380Documents, etc., to be delivered to Registrar by foreign companies.—(1) Every foreign
Section 381Accounts of foreign company.—(1) Every foreign company shall, in every calendar year,—
Section 382Display of name, etc., of foreign company.—Every foreign company shall—
Section 383Service on foreign company.—Any process, notice, or other document required to be served on
Section 384Debentures, annual return, registration of charges, books of account and their inspection.—
Section 385Fee for registration of documents.—There shall be paid to the Registrar for registering any
Section 386Interpretation.—For the purposes of the foregoing provisions of this Chapter,—
Section 387Dating of prospectus and particulars to be contained therein.—(1) No person shall issue,
Section 388Provisions as to expert’s consent and allotment.—(1) No person shall issue, circulate or
Section 389Registration of prospectus.—No person shall issue, circulate or distribute in India any prospectus
Section 390Offer of Indian Depository Receipts.—Notwithstanding anything contained in any other law for
Section 391Application of sections 34 to 36 and Chapter XX.—(1) The provisions of sections 34 to 36 (both
Section 392Punishment for contravention.—Without prejudice to the provisions of section 391, if a foreign
Section 393Company’s failure to comply with provisions of this Chapter not to affect validity of
Section 394Annual reports on Government companies.—(1) Where the Central Government is a member
Section 395Annual reports where one or more State Governments are members of companies.
Section 396Registration offices.—(1) For the purposes of exercising such powers and discharging such
Section 397Admissibility of certain documents as evidence.—Notwithstanding anything contained in any
Section 398Provisions relating to filing of applications, documents, inspection, etc., in electronic form.
Section 399Inspection, production and evidence of documents kept by Registrar.—(1) Save as otherwise
Section 400Electronic form to be exclusive, alternative or in addition to physical form.
Section 401Provision of value added services through electronic form.—The Central Government may
Section 402Application of provisions of Information Technology Act, 2000.—All the provisions of the
Section 403Fee for filing, etc.—(1) Any document, required to be submitted, filed, registered or recorded, or
Section 404Fees, etc., to be credited into public account.—All fees, charges and other sums received by any
Section 405Power of Central Government to direct companies to furnish information or statistics.—(1)
Section 406Provision relating to Nidhis and its application, etc.
Section 407Definitions.—In this Chapter, unless the context otherwise requires,—
Section 408Constitution of National Company Law Tribunal.—The Central Government shall, by
Section 409Qualification of President and Members of Tribunal.—(1) The President shall be a person who
Section 410Constitution of Appellate Tribunal.—The Central Government shall, by notification, constitute,
Section 411Qualifications of chairperson and Members of Appellate Tribunal.—(1) The chairperson shall
Section 412Selection of Members of Tribunal and Appellate Tribunal.— (1) The President of the Tribunal
Section 413Term of office of President, chairperson and other Members.— (1) The President and every
Section 414Salary, allowances and other terms and conditions of service of Members.—The salary,
Section 415Acting President and Chairperson of Tribunal or Appellate Tribunal.—(1) In the event of the
Section 416Resignation of Members.—The President, the Chairperson or any Member may, by notice in
Section 417Removal of Members.—(1) The Central Government may, after consultation with the Chief
Section 418Staff of Tribunal and Appellate Tribunal.—(1) The Central Government shall, in consultation
Section 419Benches of Tribunal.—(1) There shall be constituted such number of Benches of the Tribunal,
Section 420Orders of Tribunal.—(1) The Tribunal may, after giving the parties to any proceeding before it,
Section 421Appeal from orders of Tribunal.—(1) Any person aggrieved by an order of the Tribunal may
Section 422Expeditious disposal by Tribunal and Appellate Tribunal.—(1) Every application or petition
Section 423Appeal to Supreme Court.—Any person aggrieved by any order of the Appellate Tribunal may
Section 424Procedure before Tribunal and Appellate Tribunal.—(1) The Tribunal and the Appellate
Section 425Power to punish for contempt.— The Tribunal and the Appellate Tribunal shall have the same
Section 426Delegation of powers.—The Tribunal or the Appellate Tribunal may, by general or special order,
Section 427President, Members, officers, etc., to be public servants.—The President, Members, officers
Section 428Protection of action taken in good faith.—No suit, prosecution or other legal proceeding shall
Section 429Power to seek assistance of Chief Metropolitan Magistrate, etc.—1[(1) The Tribunal may, in
Section 430Civil court not to have jurisdiction.—No civil court shall have jurisdiction to entertain any suit
Section 431Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings.—No act or proceeding
Section 432Right to legal representation.—A party to any proceeding or appeal before the Tribunal or the Appellate
Section 433Limitation.—The provisions of the Limitation Act, 1963 (36 of 1963) shall, as far as may be, apply to
Section 434Transfer of certain pending proceedings
Section 435Establishment of Special Courts
Section 436Offences triable by Special Courts.—(1) Notwithstanding anything contained in the Code of
Section 437Appeal and revision.—The High Court may exercise, so far as may be applicable, all the powers
Section 438Application of Code to proceedings before Special Court.—Save as otherwise provided in this
Section 439Offences to be non-cognizable.—(1) Notwithstanding anything in the Code of Criminal
Section 440Transitional provisions.—Any offence committed under this Act, which is triable by a Special
Section 441Compounding of certain offences.—(1) Notwithstanding anything contained in the Code of
Section 442Mediation and Conciliation Panel.—(1) The Central Government shall maintain a panel of
Section 443Power of Central Government to appoint company prosecutors.—Notwithstanding anything
Section 444Appeal against acquittal.—Notwithstanding anything contained in the Code of Criminal
Section 445Compensation for accusation without reasonable cause.—The provisions of section 250 of the
Section 446Application of fines.—The court imposing any fine under this Act may direct that the whole or
Section 447Punishment for fraud.—Without prejudice to any liability including repayment of any debt under
Section 448Punishment for false statement.— Save as otherwise provided in this Act, if in any return, report,
Section 449Punishment for false evidence.—Save as otherwise provided in this Act, if any person
Section 450Punishment where no specific penalty or punishment is provided.—If a company or any
Section 451Punishment in case of repeated default.—If a company or an officer of a company commits an
Section 452Punishment for wrongful withholding of property.—(1) If any officer or employee of a
Section 453Punishment for improper use of “Limited” or “Private Limited”.—If any person or persons
Section 454Adjudication of penalties.—(1) The Central Government may, by an order published in the
Section 455Dormant company.—(1) Where a company is formed and registered under this Act for a future
Section 456Protection of action taken in good faith.—No suit, prosecution or other legal proceeding shall
Section 457Non-disclosure of information in certain cases.—Notwithstanding anything contained in any
Section 458Delegation by Central Government of its powers and functions.—(1) The Central Government
Section 459Powers of Central Government of Tribunal to accord approval, etc., subject to conditions
Section 460Condonation of delay in certain cases.—Notwithstanding anything contained in this Act,—
Section 461Annual report by Central Government.—The Central Government shall cause a general annual
Section 462Power to exempt class or classes of companies from provisions of this Act.—(1) The Central
Section 463Power of court to grant relief in certain cases.—(1) If in any proceeding for negligence, default,
Section 464Prohibition of association or partnership of persons exceeding certain number.—(1) No
Section 465Repeal of certain enactments and savings.—(1) The Companies Act, 1956 (1 of 1956) and the
Section 466Dissolution of Company Law Board and consequential provisions.—(1) Notwithstanding
Section 467Power of Central Government to amend Schedules.—(1) Subject to the provisions of this
Section 468Power of Central Government to make rules relating to winding up.
Section 469Power of Central Government to make rules.—(1) The Central Government may, by
Section 470Power to remove difficulties.—(1) If any difficulty arises in giving effect to the provisions of
Section 1908, for the signature and verification of a plaint in a suit by the Central Government.]
Section 1971,which shall have the effect subject to modifications that—
Section 1974if, in the course of an investigation into the affairs of the company, an application is made to the
Section 2003, if necessary, and such other sectoral regulators or authorities which are likely to be affected by the
Section 378ADefinitions.
Section 378BObjects of Producer Company.—(1) The objects of the Producer Company shall relate to all
Section 378CFormation of Producer Company and its registration.—(1) Any ten or more individuals,
Section 378DMembership and voting rights of Members of Producer Company.— (1)(a) In a case where
Section 378EBenefits to Members.—(1) Subject to the provisions made in articles, every Member shall
Section 378FMemorandum of Producer Company.—The memorandum of association of every Producer
Section 378GArticles of association.—(1) There shall be presented, for registration to the Registrar of the
Section 378HAmendment of memorandum.—(1) A Producer Company shall not alter the conditions
Section 378JOption to inter-State co-operative societies to become Producer Companies.
Section 378KEffect of incorporation of Producer Company.—Every shareholder of the inter-State co-
Section 378LVesting of undertaking in Producer Company.—(1) All properties and assets, movable and
Section 378MConcession etc., to be deemed to have been granted to Producer Company.—With effect
Section 378NProvisions in respect of officers and other employees of inter-State co-operative society.
Section 378PAppointment of directors.— (1)Save as otherwise provided in section 378N, the Members who
Section 378QVacation of office by directors.— (1) The office of the director of a Producer Company shall
Section 378RPowers and functions of Board.—(1) Subject to the provisions of this Act and articles, the
Section 378SMatters to be transacted at general meeting.— The Board of Directors of a Producer Company
Section 378TLiability of directors.— (1) When the directors vote for a resolution, or approve by any other
Section 378UCommittee of directors.—(1) The Board may constitute such number of committees as it may
Section 378VMeetings of Board and quorum.—(1) A meeting of the Board shall be held not less than once
Section 378WChief Executive and his functions.— (1) Every Producer Company shall have a full time Chief
Section 378XSecretary of Producer Company.— (1) Every Producer Company having an average annual
Section 378YQuorum.— Unless the articles require a larger number, one-fourth of the total membership shall
Section 378ZI. General and other reserves.
Section 417AQualifications, terms and conditions of service of Chairperson and Member.
Section 76APunishment for contravention of section 73 or section 76.

Sections in the index

Recently decided under this act