Referring to the provisions of the Companies Act, 2013, state the grounds on which the Registrar of Companies can file a petition for winding-up of a company.
CS Executive · Company Law · PYQS · December 2015
Referring to the provisions of the Companies Act, 2013, state the grounds on which the Registrar of Companies can file a petition for winding-up of a company.
Answer & Explanation:
On the following grounds under Section 272 read with Section 271 of Companies Act, 2013, the Registrar is entitled to present a petition for winding up of a company under: if the company is unable to pay its debts. 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 fraudulent and unlawful purpose or the persons concerned in the formation or management of its 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.
Topics: Company Law
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