Section 335: Certain attachments, executions, etc., in winding up by Tribunal to be void
This section is for making certain actions against a company's estate or effects void when the company is being wound up by the Tribunal.
The section, clause by clause
What the section says
In plain terms
(1)Where any company is being wound up by the Tribunal,—
If a company is being wound up by the Tribunal, any attachment, distress, or execution against the company's estate or effects, or any sale of its properties or effects, without the Tribunal's leave, after the winding up starts, is void.
(1)(a)any attachment, distress or execution put in force, without leave of the Tribunal against the estate or effects of the company, after the commencement of the winding up; or
(1)(b)any sale held, without leave of the Tribunal of any of the properties or effects of the company, after such commencement, shall be void.
(2)Nothing in this section shall apply to any proceedings for the recovery of any tax or impost or any dues payable to the Government.
This rule does not apply to proceedings to recover taxes, imposts, or dues payable to the Government.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Subs. by Act 31 of 2016, s. 255 and the Eleventh Schedule, for section 334 (w.e.f. 15-11-2016).
- 2. Subs. by s. 255 and the Eleventh Schedule, ibid., for “whether by the Tribunal or voluntarily, or which is subsequently ordered to be wound up by the Tribunal or which subsequently passes a resolution for voluntary winding up” (w.e.f. 15-11-2016).
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.