Under what circumstances can the National Company Law Tribunal order winding-up of a company ?
CS Executive · Company Law · PYQS · June 2019
Under what circumstances can the National Company Law Tribunal order winding-up of a company ?
Answer & Explanation:
According to section 271 of the Companies Act, 2013 a company may be wound up by the Tribunal under the following circumstances: If the company has, by special resolution, resolved that the company be wound up by the Tribunal If the company has acted against the interests of the sovereignty and integrity of India, the security of the state, friendly relations with foreign states, public order, decency or morality If on an application made by the registrar or any other person authorised by the central government by notification under this Act, the Tribunal is of the opinion that the affairs of the company have been conducted in a fraudulent manner or the company was formed for a fraudulent or unlawful purpose or the persons concerned in the formation or management of the affairs have been guilty of fraud, misfeasance or misconduct in connection therewith and that it is proper that the company be wound up. If the company has made a default in filing with the Registrar, its financial statements or annual returns for immediately preceding five consecutive financial years or If the Tribunal is of the opinion that it is just and equitable that the company should be wound up.
Topics: Winding Up
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