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The Companies Act, 2013

Chapter XX - Winding Up (270 - 365)

Section 278- Effect of winding up order.

Section 278 notified with effect from 15.12.2016 vide S.O. 3676 (E) dated 07.12.2016]

Section 278- Effect of winding up order. [Corresponds to Section 447 of the Companies Act, 1956]

The order for the winding up of a company shall operate in favour of all the creditors and all contributories of the company as if it had been made out on the joint petition of creditors and contributories.