Join our Law Notes WhatsApp Group and stay updated with Legal and Judicial Updates

Section 362 of Companies Act, 2013

Jump to:navigation, search

Section 362 of Companies Act, 2013 deals with Sale of assets and recovery of debts due to company.

From the Act

(1) The Official Liquidator shall expeditiously dispose of all the assets whether movable or immovable within sixty days of his appointment.

(2) The Official Liquidator shall serve a notice within thirty days of his appointment calling upon the debtors of the company or the contributories, as the case may be, to deposit within thirty days with him the amount payable to the company.

(3) Where any debtor does not deposit the amount under sub-section (2), the Central Government may, on an application made to it by the Official Liquidator, pass such orders as it thinks fit.

(4) The amount recovered under this section by the Official Liquidator shall be deposited in accordance with the provisions of section 349.

Recent Cases / Related Cases / Case Laws

Related Sections from the Act

Chapters and Sections from the Indian Companies Act, 2013

Other Related Acts

Related Rules

Related News