Companies Winding up Rules, 2020

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Companies Winding-up Rules, 2020 

MCA releases Companies (Winding-Up) Rules, 2020. These rules shall apply to wind up under of Companies Act 2013.

 1. Short title, commencement, and application.-

These rules may be called the Companies (Winding-Up) Rules, 2020. They shall come into force on the 1st day of April 2020. These rules shall apply to wind up under of Companies Act 2013 (18 of 2013).
2. Definitions.- 
Registrar” means the Registrar of the National Company Law Tribunal or National Company Law Appellate Tribunal and includes such other officers of the Tribunal or Bench thereof to whom the powers and functions of the Registrar are assigned.
WINDING UP BY TRIBUNAL:
3. Petition for winding up.- 
Every petition shall be verified by an affidavit made by the petitioner or by the petitioners, where there is more than one petitioner, and in case the petition is presented by a body corporate, by the Director, Secretary or any other authorized person.
4. Admission of petition and directions as to advertisement:
The Tribunal for admission of the petition and fixing a date for the hearing thereof and for appropriate directions as to the advertisements to be published and the persons, if any, upon whom copies of the petition are to be served, and where the petition has been filed by a person other than the company, the Tribunal may, if it thinks fit, direct notice to be given to the company and give an opportunity of being heard, before giving directions as to the advertisement of the petition, if any, and the petitioner shall bear all costs of the advertisement.
5. Application for leave to withdraw petition :
 An application for leave to withdraw a petition for winding up which has been advertised in accordance with the provisions of rule 7 shall not be heard at any time before the date fixed in the advertisement for the hearing of the petition.
6.Affidavit-in-objection:
Any affidavit in objection to the petition under sub-section (1) of section 272 shall be filed within thirty days from the date of order, and a copy of the affidavit shall be served on the petitioner or his authorized representative forthwith and copies of the affidavit shall also be given to any contributory appearing in support of the petition.
7. Applicability :
 Unless specified otherwise, the rules hereinafter shall apply to all types of liquidators.
WINDING UP ORDER:
8. Order to be sent to liquidator and form of order:
 For winding-up shall be sent by the Registrar after it is signed and sealed within a period not exceeding seven days from the date of receipt of the order by the Registrar to the Company Liquidator and the Registrar of Companies in Form WIN 12 and Form WIN 13, and the copy of the order sent to Company Liquidator shall be accompanied by a copy of the petition and the affidavit, if any, filed in support thereof if not already sent at the time of appointment of the provisional liquidator.
The Company Liquidator shall cause a sealed copy of the order to be served upon the company in accordance with the provisions of section 20, at its registered office or if there is no registered office, at its principal or last known principal place of business, or upon such other person or persons or in such manner as the Tribunal may direct.

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