Section 362 of CA 2013 : Section 362: Sale Of Assets And Recovery Of Debts Due To Company

CA 2013

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Explanation using Example

Imagine a company, XYZ Pvt Ltd, is undergoing liquidation. An Official Liquidator is appointed by the court to manage the process. According to Section 362(1) of The Companies Act, 2013, this Official Liquidator is required to sell off all the company's assets, such as office furniture, computers, and company cars, within 60 days of his appointment to ensure a quick resolution.

Furthermore, under Section 362(2), the Official Liquidator must notify all individuals or entities tha...

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