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Winding up of a Company by the order of the tribunal
Description: According to Section 271 of the Companies Act, a Tribunal has complete authority to make a winding-up order, but only under the following conditions. The circumstances are as follows:
1: Bypassing of special resolution for winding up;
2: Inability to pay debts;
3: Deadlock in management;
4: Sick Company;
5: Acts against the State;
6: Fraudulent Conduct of Business;
7: In case the company fails to file financial statements with the Registrar;
8: If it seems just, reasonable, and equitable to wind up.
https://tuffclassified.com/winding-up-of-a-company-by-the-order-of-the-tribunal_2365508
