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CS Professional · Corporate Restructuring, Valuation and Insolvency · Winding-up by Tribunal under the Companies Act, 2013

A Company Liquidator is handling the winding up of Vindhya Cements Ltd, which has been ongoing for several months. Which reporting obligation applies to the Liquidator under the Act?

The Company Liquidator must make periodical reports to the Tribunal and in any case a report at the end of each quarter on the progress of the winding up, in the prescribed form and manner, under section 288(1).

  1. AA report to the Tribunal at least at the end of each quarter on progress of winding up, plus periodical reportsCorrect
  2. BA report to the Registrar every month only
  3. CA single report to the Tribunal at the end of the first year
  4. DA report to the stock exchange at the end of each half year

Explanation

Section 288(1) requires periodical reports to the Tribunal and in any case a report at the end of each quarter on progress. Section 277(6) separately requires monthly winding up committee minutes with a report. A Registrar-only or yearly report is not what the section provides.

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