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The Companies Act, 2013

Chapter XX - Winding Up (270 - 365)

Section 357- Commencement of winding up by Tribunal.

[Section 357 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 357 notified with effect from 15.12.2016 vide S.O. 3676 (E) dated 07.12.2016]

Section 357- Commencement of winding up by Tribunal. [Corresponds to Section 441 of the Companies Act, 1956]

The winding up of a company by the Tribunal under this Act shall be deemed to commence at the time of the presentation of the petition for the winding up. 


Prior to substitution w.e.f. 15.11.2016, Section 357 read as under:

Section 357- Commencement of winding up by Tribunal.  

 (1) Where, before the presentation of a petition for the winding up of a company by the Tribunal, a resolution has been passed by the company for voluntary winding up, the winding up of the company shall be deemed to have commenced at the time of the passing of the resolution, and unless the Tribunal, on proof of fraud or mistake, thinks fit to direct otherwise, all proceedings taken in the voluntary winding up shall be deemed to have been validly taken.

(2) In any other case, the winding up of a company by the Tribunal shall be deemed to commence at the time of the presentation of the petition for the winding up: