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[Cites 0, Cited by 0] [Section 488] [Entire Act]

Union of India - Subsection

Section 488(4) in The Companies Act, 1956

(4)If the company is wound-up in pursuance of a resolution passed within the period of five weeks after the making of the declaration, but its debts are not paid or provided for in full within the period specified in the declaration, it shall be presumed, until the contrary is shown, that the Director did not have reasonable grounds for his opinion.