valid as on 19/12/2024

Section 301. Arrest of person trying to leave India or abscond
Effective from 15-12-2016

At any time either before or after passing a winding up order, if the is satisfied that a contributory or a person having property, accounts or papers of the  in his possession is about to leave India or otherwise to abscond, or is about to remove or conceal any of his property, for the purpose of evading payment of calls or of avoiding examination respecting the affairs of the company, the Tribunal may cause—

(a) the  to be detained until such time as the Tribunal may order; and
(b) his books and papers and movable property to be seized and safely kept until such time as the Tribunal may order.

2(90) Tribunal means the National Company Law Tribunal constituted under section 408
2(20) Company means a company incorporated under this Act or under any previous company law
2(26) Contributory means a person liable to contribute towards the assets of the company in the event of its being wound up.

Explanation.—For the purposes of this clause, it is hereby clarified that a person holding fully paid-up shares in a company shall be considered as a contributory but shall have no liabilities of a contributory under the Act whilst retaining rights of such a contributory

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


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