Section 290 of CA 2013 : Section 290: Powers And Duties Of Company Liquidator

Explanation using Example

Imagine a scenario where XYZ Pvt. Ltd. is undergoing a compulsory winding up process by a tribunal due to insolvency. The appointed Company Liquidator, Mrs. Smith, is tasked with managing the affairs of XYZ Pvt. Ltd. to ensure its assets are appropriately handled and liabilities settled.

Here's how Mrs. Smith might apply Section 290 of The Companies Act, 2013 in her duties:

• Mrs. Smith continues to operate certain divisions of XYZ Pvt. Ltd. that are profitable to maximize the returns from selling the business. This is in line with Section 290(1)(a).
• She executes a property sale deed on behalf of XYZ Pvt. Ltd. using the company's seal to sell an office building, as per Section 290(1)(b).
• She organizes a public auction to sell the company's fleet of vehicles, which falls under Section 290(1)(c).
• Mrs. Smith finds a buyer interested in purchasing the entire manufacturing unit of XYZ Pvt. Ltd. as a going concern, which she handles in accord...

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