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CS Professional · Drafting, Pleadings and Appearances · Applications, Petitions and Appeals under Companies Act, 2013

Section 303 begins by saying that nothing in 'this Chapter' shall affect certain orders. Mehra Alloys Ltd was ordered to be wound up by a Court just before the 2013 Act commenced. What is the effect of the Chapter's new provisions on that order?

The order remains unaffected. Section 303 provides that nothing in the Chapter affects the operation or enforcement of a Court's winding-up order made immediately before commencement, so the order continues to operate and be enforced without being set aside, reconfirmed or converted.

  1. AThe order is automatically set aside and the matter restarts before the Tribunal
  2. BThe order must be re-confirmed by the Tribunal within one year
  3. CThe order is unaffected, and its operation and enforcement continueCorrect
  4. DThe order is converted into a voluntary winding up

Explanation

The section states that nothing in the Chapter affects the operation or enforcement of such an order. Hence the order continues to operate and be enforced. Setting aside or re-confirmation is not provided.

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