Treatment of surplus in case of winding up of section 8 company

    Posted By : Ekta / Published on : 01-Jul-2018 12:23 AM / View : 83 / Comment : 1
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    How will the surplus be treated in case of winding up of Section 8 Company?
    Read more on : section company winding case surplus treatment

    • As per Section 8(9) of Companies Act, 2013 (applicable w.e.f. 15.12.2016), any asset remaining after satisfaction of the debts will be transferred to another company registered under Section 8 of the CA, 2013 having similar objects, subject to such conditions as the NCLT may impose, or the same may be sold and proceeds thereof will be credited to the Insolvency and Bankruptcy Fund formed under Section 224 of the Insolvency and Bankruptcy Code, 2016.

      30-06-2018 / 10:50:26 AM

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