10 Winding Up of Company on Report of Company Administrator

Winding Up of Company on Report of Company Administrator

10 For the purposes of sub-section (1) of section 265, where the scheme is not approved in the manner specified under sub-section

(2) of section 262, the company administrator shall submit a report to the Tribunal within fifteen days of the meeting concerned in Form T. Upon receipt of a report, after making such enquiries as it may deem fit, the Tribunal shall by order, direct the winding up of the sick company.