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The Companies Act, 1956

Winding Up (Section 425 to 560)

Section 523 Effect of petition for winding up subject to supervision.

Section 523 Effect of petition for winding up subject to supervision.

A petition for the continuance of voluntary winding up subject to the supervision of the Court shall, for the purpose of giving jurisdiction to the Court over suits and legal proceedings, be deemed to be petition for winding up by the Court.