Section 343 of CA 2013 : Section 343: Company Liquidator To Exercise Certain Powers Subject To Sanction

Explanation using Example

Imagine a scenario where "Tech Innovations Ltd." is undergoing liquidation through a Tribunal. The Company Liquidator, appointed to manage the winding up process, identifies that certain creditors, such as small suppliers, may face significant hardship if their dues are not cleared promptly. To mitigate this, the liquidator proposes to use the powers under Section 343(1) of The Companies Act, 2013.

The liquidator seeks the Tribunal's sanction to pay these small suppliers in full, ensuring their financial stability. This action falls under clause (i) of Section 343(1), which allows for full payment to any class of creditors, with the Tribunal's...

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