Section 165   [ View Judgements ]

Amendment of section 446

In section 446 of the principal Act,-

(a) for sub-section (2), the following sub-section shall be substituted, namely:-

"(2) The Court which is winding up the company shall notwithstanding anything contained in any other law for the time being in force, have jurisdiction to entertain, or dispose of--

(a) any suit or proceeding by or against the company;

(b) any claim made by or against the company (including claims by or against any of its ranches in India);

(c) any application made under section 391 by one in respect of the company;

(d) any question of priorities or any other question whatsoever, whether of law or fact, which may relate to or arise in course of ht winding up of the company;

whether such suit or proceeding has been instituted or is instituted, or such claim or question has arisen or arises in such application has been made or is made before or after the order for the company, or before or after the commencement of the Companies (amendment) Act, 1960.";

(b) after sub-section (3), the following sub-section shall be inserted, namely:-

"(4) Nothing in sub-section (1) or sub-section (3) shall apply to any proceeding pending in appeal before the Supreme Court or a High Court.".

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