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      Question

      Under Section 271 of the Companies Act, 2013, read with

      Section 357, when is the winding up of a company by the Tribunal deemed to commence?
      A On the date the Tribunal passes the final winding up order. Correct Answer Incorrect Answer
      B On the date the Official Liquidator takes possession of the company's books and assets. Correct Answer Incorrect Answer
      C At the time of the presentation of the petition for the winding up. Correct Answer Incorrect Answer
      D On the date the resolution for winding up is passed by the shareholders. Correct Answer Incorrect Answer
      E On the date the company is struck off from the Register of Companies (ROC). Correct Answer Incorrect Answer

      Solution

      Correct Answer: 3 Winding Up by the Tribunal (Section 357(2))- Where a petition for winding up is presented to the Tribunal, the winding up is deemed to commence from the very moment the petition was presented . This prevents directors from siphoning off assets or making fraudulent preferences between the time the petition is filed and the final order is passed. Any disposition of property or transfer of shares made after the presentation of the petition is void unless the Tribunal orders otherwise.

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