Winding up of a Company by the order of the tribunal
16/08/2024 Financial & Legal Services
Price: Check with seller
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.
Comments
Nikita Patel
Individual
More Details