New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    As per the Companies Act the Tribunal may at any time

    after passing of a winding up order, pass an order requiring any contributory  for the time being on the list of contributories to pay___________________
    A Any money due to the company, from him or from the estate of the person whom he represents, exclusive of any money payable by him or the estate by virtue of any call as per the Companies Act Correct Answer Incorrect Answer
    B All outstanding debts owed by the company, regardless of the estate they represent Correct Answer Incorrect Answer
    C The money owed to the company, only if it is explicitly requested by the Company Liquidator Correct Answer Incorrect Answer
    D All a b & c Correct Answer Incorrect Answer
    E Both a & c Correct Answer Incorrect Answer

    Solution

    Section 295. Payment of debts by contributory and extent of set-off: m(1) The Tribunal may, at any time after passing of a winding up order, pass an order requiring any contributory  for the time being on the list of contributories to pay, in the manner directed by the order, any money due to the company , from him or from the estate of the person whom he represents, exclusive of any money payable by him or the estate by virtue of any call in pursuance of this Act.

    Practice Next