Section 270. Winding up by Tribunal*.
Effective from 15-12-2016
The provisions of Part I shall apply to the winding up of a company by the Tribunal under this Act.Substituted vide The Insolvency and Bankruptcy Code, 2016. To view the amendment,Click Here
(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’.