Section 283 of the Companies Act, 2013
🔹 Section 283 of the Companies Act, 2013
Title: Provisions for winding up of companies to apply to companies incorporated outside India
✅ Overview:
Section 283 extends certain winding up provisions of the Companies Act, 2013, to companies incorporated outside India but having a place of business in India.
🔍 Key Provisions:
If a company incorporated outside India has a place of business within India and has assets or liabilities in India, it may be wound up in India under the provisions of the Companies Act, 2013, as applicable to Indian companies.
The winding up proceedings may be initiated by:
The company itself,
Its creditors,
Or other parties entitled under the Act.
The relevant provisions relating to winding up of Indian companies will apply mutatis mutandis (i.e., with necessary modifications) to such foreign companies.
📝 Summary:
| Point | Details |
|---|---|
| Applies to | Foreign companies with place of business in India |
| Subject to | Indian winding up provisions |
| Parties who may initiate winding up | Company, creditors, others entitled |
📌 Purpose:
To ensure that foreign companies operating in India can be held accountable and subject to winding up proceedings under Indian law, protecting creditors and other stakeholders within India.
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