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.