valid as on 12/12/2018

Section 334. Transfers, etc., after commencement of winding up to be void
Effective from 15-12-2016

 In the case of a winding up by the Tribunal, any disposition of the property including actionable claims, of the  and any transfer of  in the company or  in the status of its  , made after the commencement of the winding up shall, unless the Tribunal otherwise orders, be void.

(1) In the case of a voluntary winding up, any transfer of shares in the company, not being a transfer made to or with the sanction of the, and any alteration in the status of the members of the company, made after the commencement of the winding up, shall be void.

 

(2) In the case of a winding up by the Tribunal, any disposition of the property, including actionable claims, of the company, and any transfer of shares in the company or alteration in the status of its members, made after the commencement of the winding up, shall, unless the Tribunal otherwise orders, be void.

Substituted vide The Insolvency and Bankruptcy Code, 2016. To view the amendment,Click Here
2(20) Company means a company incorporated under this Act or under any previous company law
2(84) Share means a share in the share capital of a company and includes stock
2(3) Alteration includes the making of additions, omissions and substitutions.
2(55) Member, in relation to a company, means—

(i) the subscriber to the memorandum of the company who shall be deemed to have agreed to become member of the company, and on its registration, shall be entered as member in its register of members;

(ii) every other person who agrees in writing to become a member of the company and whose name is entered in the register of members of the company;

(iii) every person holding shares of the company and whose name is entered as a beneficial owner in the records of a depository

2(23) Company Liquidator  means a person appointed by the Tribunal as the Company Liquidator in accordance with the provisions of section 275 for the winding up of a company under this Act.

Amendments to Companies Act, 2013 vide Eleventh Schedule of the Insolvency and Bankruptcy Code, 2016


Enforcement Notification S.O. 3677(E) dated 07/12/2016


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