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Section 511 – The Companies Act,1956

The Companies Act, 1956

511. Distribution of property of company.

Subject to the provisions of this Act as to preferential payments, the assets of a company shall, on its winding up be applied in satisfaction of its liabilities pari passu and subject to such application, shall, unless the articles otherwise provide, be distributed among the members according to their rights and interests in the company.

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The Companies Act, 1956

Indian Laws – Bare Acts

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