1. Where a company is being wound up, whether by the Tribunal or voluntarily, every invoice, order for goods or business letter issued by or on behalf of the company or a Company Liquidator of the company, or a receiver or manager of the property of the company, being a document on or in which the name of the company appears, shall contain a statement that the company is being wound up.
2. If a company contravenes the provisions of sub-section (1 ), the company, and every officer of the company, the Company Liquidator and any receiver or manager, who wilfully authorises or permits the non-compliance, shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to three lakh rupees.
Legal Commentary & Landmark Judgments: Section 344
Section 344 of the Companies Act, 2013 mandates that every invoice, order for goods, or business letter issued by or on behalf of a company being wound up must prominently state that the company is in liquidation.
Immediately upon appointment, the Company Liquidator must issue an administrative circular updating all digital communication templates, letterheads, invoices, and purchase orders to include the suffix '(in liquidation)' after the company's registered name, eliminating exposure to Section 344 fines.