Companies Act Section 335 — Certain attachments, executions, etc., in winding up by Tribunal to be void

CHAPTER XX WINDING UP

Commercial / Corporate

Summary

Sub-section (1) states that when a company is being wound up by the Tribunal, any attachment, distress, or execution put in force against the company's estate or effects after the winding up begins, without the Tribunal's leave, is void. It also states that any sale of the company's properties or effects held after the winding up begins, without the Tribunal's leave, is void.

Sub-section (2) states that this section does not apply to any proceedings for the recovery of any tax or impost, or any dues payable to the Government.

Official Text

(1) Where any company is being wound up by the Tribunal,—

(a) any attachment, distress or execution put in force, without leave of the Tribunal against the estate or effects of the company, after the commencement of the winding up; or

(b) any sale held, without leave of the Tribunal of any of the properties or effects of the company, after such commencement, shall be void.

(2) Nothing in this section shall apply to any proceedings for the recovery of any tax or impost or any dues payable to the Government.