Section 446 in The Companies Act, 1956
446. Suits stayed on winding up order .-
(1) When a winding up order has been made ... with, against the company, except by leave of the [Tribunal] and subject to such terms as the [Tribunal] [ Substituted by Act 11 of 2003, Section
Act can
override the provisions of Companies Act , as it is a very special provision
incorporated in the Negotiable Instruments Act , though the Companies
Act ... Corporation Act pertaining to LIC, which is also a Company within the
ambit of Companies Act , is the Special Statute, whereas, Companies Act
446 of the Companies Act, then it would defeat the entire scheme of the Companies Act about the disbursement of the company's assets ... against a company in liquidation was also subject to the jurisdiction of the company court under Section 446 of the Companies Act. Considerable stress
Section 446 in The Companies Act, 2013
446. Application of fines.—
The court imposing any fine under this Act may direct that the whole
company in liquidation, are legal proceedings against the company within the meaning of Section 446(1) of the Companies Act, 1956 and the said proceedings ... Act or in the Companies Act , which exempts a company in liquidation from assessment. On the other hand, Section 178 of the Income-tax Act
Insurance Corporation Act will override the provisions of the general Act, viz., the Companies Act which was an Act relating to companies in general ... company, Section 446 has no application and the proceedings cannot be stayed invoking' Section 446 of the Companies Act. A consideration of the above
Companies Act,
1956, held that;
" Section 171 of Indian Companies Act, 1913, was intended
to safeguard the company's assets against wasteful ... provisions of the Companies Act , as it is a very special
provision incorporated in the Negotiable Instruments Act ,
though the Companies Act contains certain special
Act i.e. the LIC Act will override the
provisions of the general Act, the Companies Act which is an
Act relating to Companies ... Act, the said Act overrides the Companies Act , to the extent
there is anything inconsistent between the Acts. other
rulings of Supreme Court and High
determination of disputes between the company and its workmen.
10. In my opinion, Sections 446 of the Companies Act can have no application to proceedings ... company is a party can be described as a proceeding against the company so as to attract Sections 446 of the Companies Act. Also that
ACT:
Life Insurance Corporation Act . 1956, ss. 15 and
44(a)-- Indian Companies Act, 1956 , ss. 446(1)--Application
by Life Insurance Corporation under ... Act , will over-ride the provisions of the general Act viz.,
the Companies Act which is an Act relating to companies in
general
