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

While drafting a note on Section 303 for a client, a company secretary lists its two core effects. Which pair is correct?

The two effects are that the order's operation and enforcement remain unaffected by the new Chapter, and that any appeal is filed before the authority competent to hear such appeals before commencement. The section neither cancels the order nor moves appeals to the new Tribunal.

  1. AIt preserves operation and enforcement of the order, and directs appeals to the authority competent before commencementCorrect
  2. BIt cancels the order, and directs appeals to the Tribunal
  3. CIt suspends enforcement, and directs appeals to the Registrar
  4. DIt preserves the order, and allows appeal before any bench of the NCLT

Explanation

The section has two limbs: the Chapter does not affect operation or enforcement of the pre-commencement winding-up order, and appeals are filed before the authority competent before commencement.

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