Companies Act Section 334 — Transfers, etc., after commencement of winding up to be void

CHAPTER XX WINDING UP

Commercial / Corporate

Summary

In the case of a winding up by the Tribunal, any dealing with the company's property—including things like debts or claims the company is owed—and any transfer of shares in the company, or any change in the status of its members, that happens after the winding up has begun, will be invalid. This invalidity applies unless the Tribunal specifically orders otherwise.

Official Text

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.]