Examine the validity of Tribunal's order to wind up the company in the following circumstances: The registrar has presented a petition as the company has defaulted in filing financial statements for immediately preceding

Provisions of the Companies Act, 2013: Section 271(d) of the Companies Act, 2013 provides that a company may, on a petition under Section 272 of the Companies Act, 2013, be wound up by the Tribunal if the company has made a default in filing with the Registrar of Companies its financial statements or annual returns for immediately preceding **five consecutive financial years**. Application to the given case: The Registrar has presented a petition for winding up because the company has defaulted in filing financial statements for immediately preceding **three consecutive financial years**. Conclusion: Applying the above provisions, the Registrar's petition for winding up based on a default of three consecutive financial years is **invalid**, as the statutory requirement for winding up on this ground is a default for five consecutive financial years. Therefore, the Tribunal cannot pass an order for winding up based solely on this petition.