Sale of assets and recovery of debts due to company
Section 362 of the Companies Act, 2013 deals with sale of assets and recovery of debts due to company. The Official Liquidator shall expeditiously dispose of all the assets whether movable or immovable within sixty days of his appointment. The Act came into force on 01 Apr 2014.
(1) The Official Liquidator shall expeditiously dispose of all the assets whether movable or immovable within sixty days of his appointment.
(2) The Official Liquidator shall serve a notice within thirty days of his appointment calling upon the debtors of the company or the contributories, as the case may be, to deposit within thirty days with him the amount payable to the company.
(3) Where any debtor does not deposit the amount under sub-section (2), the Central Government may, on an application made to it by the Official Liquidator, pass such orders as it thinks fit.
(4) The amount recovered under this section by the Official Liquidator shall be deposited in accordance with the provisions of section 349.
Section 362, The Companies Act, 2013 (Act 18 of 2013).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Made under this section, and citing it
1 instrument names this provision in its title or its text without being made under it.
Questions about Section 362
What does Section 362 of the Companies Act deal with?
Section 362 of the Companies Act is headed "Sale of assets and recovery of debts due to company". The Official Liquidator shall expeditiously dispose of all the assets whether movable or immovable within sixty days of his appointment.
How do I find court cases under Section 362 of the Companies Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Companies Act 362, section 362 Companies Act, section 362 of the Companies Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 362 of the Companies Act, and has it changed?
Its own text turns on section 349 (Official Liquidator to make payments into public account of India), so none of them can safely be read on its own. One instrument names it without being made under it, most recently Delegations of Powers to Regional Directors under section 458 of CA, 2013 (2016).
When did Section 362 of the Companies Act come into force?
Section 362 of the Companies Act, cited as Companies Act 362, came into force on 01 Apr 2014, having been enacted on 29 Aug 2013. It is in force as at the date shown on this page.
Other sections of this Act
- 2. Definitions5089 words
- 143. Powers and duties of auditors and auditing standards1867 words
- 230. Power to compromise or make arrangements with creditors and members1432 words
- 232. Merger and amalgamation of companies1416 words
- 149. Company to have Board of Directors1403 words
- 217. Procedure, powers, etc., of inspectors1390 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.