1. Where a winding up order has been made or where a provisional liquidator has been appointed, the Company Liquidator or the provisional liquidator, as the case may be, shall, on the order of the Tribunal, forthwith take into his or its custody or control all the property, effects and actionable claims to which the company is or appears to be entitled to and take such steps and measures, as may be necessary, to protect and preserve the properties of the company.
2. Notwithstanding anything contained in sub-section (1 ), all the property and effects of the company shall be deemed to be in the custody of the Tribunal from the date of the order for the winding up of the company.
3. On an application by the Company Liquidator or otherwise, the Tribunal may, at any time after the making of a winding up order, require any contributory for the time being on the list of contributories, and any trustee, receiver, banker, agent, officer or other employee of the company, to pay, deliver, surrender or transfer forthwith, or within such time as the Tribunal directs, to the Company Liquidator, any money, property or books and papers in his custody or under his control to which the company is or appears to be entitled.
Legal Commentary & Landmark Judgments: Section 283
Section 283 of the Companies Act, 2013 establishes that all properties, effects, and actionable claims of the company are placed in custodia legis of the Tribunal from the date of the winding up order, requiring the liquidator to take immediate physical custody and control.
When ex-directors or third parties refuse to surrender premises, title deeds, or vehicles belonging to the company, the liquidator should not file an ordinary civil suit. An immediate application under Section 283(3) before the NCLT with a prayer for police assistance under Rule 9 of the Companies (Court) Rules / NCLT Rules ensures swift physical recovery under threat of contempt.