Section 265 - Omitted - Companies Act, 2013

1 [***] ******************** Notes:- 1. As Omitted vide Insolvency and Bankruptcy Code, 2016, ELEVENTH SCHEDULE, before it was read as, Winding up of company on report of company administrator 265. (1) If the scheme is not approved by the creditors in the manner specified in sub-section (2) of section 262, the company administrator shall submit a report to the Tribunal within fifteen days and the Tribunal shall order for the winding up of the sick company. (2) On the passing of an order under sub-section (1), the Tribunal shall conduct the proceedings for winding up of the sick company in accordance with the provisions of Chapter XX.