Costing Standards Accounting Standards E-Forms

The Companies Act, 2013

Chapter XX - Winding Up (270 - 365)

Section 323- Costs of voluntary winding up.

[Section 323 omitted w.e.f.15.11.2016 vide Notification dated 28.05.2016 (Insolvency and Bankruptcy Code, 2016) read with MCA Notification S.O.3453(E) dated 15.11.2016]

Section 323- Costs of voluntary winding up. [Corresponds to Section 520 of the Companies Act, 1956]

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Prior to Omission w.e.f 15.11.2016, Section 323 read as under:

Section 323- Costs of voluntary winding up. 

All costs, charges and expenses properly incurred in the winding up, including the fee of the Company Liquidator, shall, subject to the rights of secured creditors, if any, be payable out of the assets of the company in priority to all other claims.