[Section 270 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 effective from 15.11.2016]
Section 270- Modes of winding up. [Corresponds to Section 425 of the Companies Act, 1956]
The provisions of Part I shall apply to the winding up of a company by the Tribunal under this Act.
Prior to substitution w.e.f 15.11.2016 Section 270 read as under:
Section 270- Modes of winding up.
(1) The winding up of a company may be either—
(a) by the Tribunal; or
(2) Notwithstanding anything contained in any other Act, the provisions of this Act with respect to winding up shall apply to the winding up of a company in any of the modes specified under sub-section (1).