Section 378 of CA 2013 : Section 378: Saving And Construction Of Enactments Conferring Power To Wind Up Partnership Firm, Association Or Company, Etc, In Certain Cases

Explanation using Example

Imagine a scenario where a partnership firm is facing financial difficulties and the partners decide to wind up the business. According to Section 378 of the Companies Act, 2013, the process of winding up this partnership firm will not be affected by the provisions of Part I of the Companies Act, 2013. Instead, the winding up will be governed by the specific enactments that deal with winding up of partnership firms, which may refer to the Companies Act, 1956 or any Act that it has repealed.

For example, if there is a reference to a section of the Companies Act, 1956 in the enactment used to wind up the partnership, that reference will be interpreted as a reference to the corresponding section in the Companies Act, 2013, if a corresponding section exists. This ensures that the legal process reflects the most current legislation applicable to the winding up of the firm.