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The Companies Act, 2013

Chapter XX - Winding Up (270 - 365)

Section 334- Transfers, etc., after commencement of winding up to be void.

[Section 334 substituted w.e.f.15.11.2016 vide Notification 37 dated 28.05.2016 (Insolvency and Bankruptcy Code, 2016) read with MCA Notification S.O.3453 (E) dated 15.11.2016 

Section 334 notified with effect from 15.12.2016 vide S.O. 3676 (E) dated 07.12.2016]

Section 334- Transfers, etc., after commencement of winding up to be void. [Corresponds to Section 536 of the Companies Act, 1956]

In the case of a winding up by the Tribunal, any disposition of the property including actionable claims, of the company and any transfer of shares in the company or alteration in the status of its members, made after the commencement of the winding up shall, unless the Tribunal otherwise orders, be void.


Prior to substitution w.e.f. 15.11.2016, Section 334 read as under:

Section 334- Transfers, etc., after commencement of winding up to be void. 

(1) In the case of a voluntary winding up, any transfer of shares in the company, not being a transfer made to or with the sanction of the Company Liquidator, and any alteration in the status of the members of the company, made after the commencement of the winding up, shall be void.

(2) In the case of a winding up by the Tribunal, any disposition of the property, including actionable claims, of the company, and any transfer of shares in the company or alteration in the status of its members, made after the commencement of the winding up, shall, unless the Tribunal otherwise orders, be void.