Companies Act, 2013

Section 393

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

⚡ Quick Answer Reference: Section 393 Companies Act

Provision: Section 393 of Companies Act
Act: Companies Act, 2013
Classification: corporate
Jurisdiction: India

Statutory Content

What does Section 393 of Companies Act say?

If a contributory 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 393, Companies Act, 2013

Bluebook (21st ed.)Companies Act, 2013, § 393 (India)

Court Pleading StandardSection 393 of the Companies Act, 2013

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

Common Questions about Section 393 Companies Act

What is Section 393 of Companies Act?

Section 393 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 contributory". The section states: If a contributory 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...

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