Companies Act, 2013

Section 392

Power of Tribunal to order winding up of company which is unable to pay its debts on a petition presented by a creditor

⚡ Quick Answer Reference: Section 392 Companies Act

Provision: Section 392 of Companies Act
Act: Companies Act, 2013
Classification: corporate
Jurisdiction: India

Statutory Content

What does Section 392 of Companies Act say?

If a creditor of a company which is unable to pay its debts presents a petition to the Tribunal for the winding up of the company, the Tribunal may, if it is satisfied that the company is unable to pay its debts, order the company to be wound up.

Indian StandardSection 392, Companies Act, 2013

Bluebook (21st ed.)Companies Act, 2013, § 392 (India)

Court Pleading StandardSection 392 of the Companies Act, 2013

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Source: Gazette of India (Official Publication)Verify egazette.gov.in ↗

Common Questions about Section 392 Companies Act

What is Section 392 of Companies Act?

Section 392 of the Companies Act, 2013 (Companies Act) defines and regulates "Power of Tribunal to order winding up of company which is unable to pay its debts on a petition presented by a creditor". The section states: If a creditor of a company which is unable to pay its debts presents a petition to the Tribunal for the winding up of the company, the Tribunal may, if it is satisfied that the com...

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