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Section 537 – The Companies Act,1956

The Companies Act, 1956

537. Avoidance of certain attachments, executions, etc., in winding up by Tribunal.

1[537. Avoidance of certain attachments, executions, etc., in winding up by Tribunal.(1) Where any company is being wound up by Tribunal

(a)any attachment, distress or execution put in force, without leave of the Tribunal against the estate or effects of the company, after the commencement of the winding up; or

(b)any sale held, without leave of the Tribunal of any of the properties or effects of the company after such commencement] shall be void.

(2) Nothing in this section applies to any proceedings for the recovery of any tax or impost or any dues payable to the Government.]

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1. Subs. by Act 11 of 2003, sec. 97, for section 537.

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The Companies Act, 1956

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