(1) The winding up of a company may be either— (a) by the Tribunal; or
(b) voluntary. (2) Notwithstanding anything contained in any other Act, the provisions of this Act with respect to winding up shall apply to the winding up of a company in any of the modes specified under sub-section (1).
* The Insolvency and Bankruptcy Code 2016 substituted Section 270 titled ‘
Modes of Winding Up’ to ‘Winding up by Tribunal’.