Costing Standards Accounting Standards E-Forms

The Companies Act, 2013

Chapter XX - Winding Up (270 - 365)

Section 284- Promoters directors etc. to co-operate with Company Liquidator.

Section 284 notified with effect from 15.12.2016 vide S.O. 3676 (E) dated 07.12.2016]

Section 284- Promoters directors etc. to co-operate with Company Liquidator. [New Provision]

 (1) The promoters, directors, officers and employees, who are or have been in employment of the company or acting or associated with the company shall extend full cooperation to the Company Liquidator in discharge of his functions and duties.

(2) Where any person, without reasonable cause, fails to discharge his obligations under sub-section (1), he shall be punishable with imprisonment which may extend to six months or with fine which may extend to fifty thousand rupees, or with both.