What are the provisions regarding disclaimer of onerous properties by the liquidator under the Companies Act, 2013?

Section 333 of the Companies Act, 2013 deals with disclaimer of onerous property and it provides that: 1. Where any part of the property of a company which is being wound up consists of— (a) land of any tenure, burdened with onerous covenants; or (b) shares or stocks in companies; or (c) any other property which is not saleable or is not readily saleable by reason of the possessor thereof being bound either to the performance of any onerous act or to the payment of any sum of money; or (d) Unprofitable contracts. 2. The Company Liquidator may disclaim the onerous property in accordance with the provisions of this section, notwithstanding that he has (a) endeavoured to sell such property; or (b) taken possession of such property; or (c) exercised any act of ownership in relation such property; or (d) done anything in pursuance of any contract. 3. The conditions applicable for disclaiming the onerous property by the liquidator are: (a) The Company Liquidator may disclaim the onerous property within 12 months after the commencement of the winding up or such extended period as may be allowed by the Tribunal. (b) If the Company Liquidator had not become aware of the existence of any onerous property within 1 month from the, commencement of the winding up, the power of disclaiming the property may be exercised at any time within 12 months after he has become aware thereof or such extended period as may be allowed by the Tribunal.