Question: Who may apply for petition to the court for an order to wind up a company?

Who can petition to wind up a company?

A petition to wind up a company may be presented by the company, the directors, any creditor or creditors, a contributory or contributories, the clerk of a magistrates’ court in the exercise of the power conferred by section 87A of the Magistrates Court Act 1980 (enforcement of fines imposed on companies), any …

Who Cannot file a petition in court for winding up of a company?

But a contributory cannot make a petition for the winding up of the company under clause (a) and (b) stated above unless at least some of the shares held by him were originally allotted to him or have been held by him and registered in his name for at least 6 months during the 18 months before the commencement of the …

Who can order such winding up?

The order for the winding up of a company by the Tribunal shall, within 14days of the date of the order be advertised by the petitioner in a newspaper in the English language and a newspaper in vernacular language widely circulating in the State or the Union territory where the registered office of the company is …

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Who can present a petition for winding up of a company briefly explain?

XL of the Code of Civil Procedure, a Receiver can file a petition for winding up of a company for the realisation of the properties, movable and immovable, including debts, of which he was appointed the Receiver. 1. Winding up subject to supervision of court, is different from “Winding up by court.”

Who are the persons who can file petition for winding up of the company Mcq?

As per Section 272 , the following are the persons who can file a petition for winding up of the company. The Company. Any Contributory or Contributories. The Registrar with Approval Central Government and is given an opportunity of Being Heard.

How do I get a winding up petition?

Here are three ways to find out if a winding up petition has been issued against your debtor company:

  1. To Search for Winding Up Petitions Look it up in the Gazette. …
  2. Visit the Companies Court. …
  3. Ask your lawyer or subscribe to receive the information.

Who are the members of winding up committee?

It shall consist of 12 members of which are shareholders, contributories and creditors of the company. The company liquidator shall convene a meeting of creditors and contributories of the company within 30 days from the date of order of winding up so that the tribunal can decide the composition of the committee.

Who will appoint liquidator in case of compulsory winding up?

Official liquidator is appointed in the case of compulsory winding up of a company. Official liquidator is the officer of the High Court and he is appointed from the date of order of winding up of the company.

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When can a court order winding up of a company?

When the company has passed the special resolution stating that the company be wound up by the Court or Tribunal. Has acted against the interest of the sovereignty and integrity of the country. The company has defaulted in filing its financial statement or annual returns for five consecutive financial years.

Who may be appointed as director?

Only an Individual (living person) can be appointed as a Director in a Company. A body corporate or business entity cannot be appointed as a Director in a Company. A company can have a maximum of fifteen Directors – it can be increased further by passing a special resolution.

What is the procedure for winding up of a company?

Procedure- Winding up of a Company

  1. Petition Filed for Winding up of a Company. …
  2. Statement of Affairs of the Company. …
  3. Advertisement. …
  4. Appointment of Provisional Liquidator. …
  5. Send notice to the Provisional Liquidator. …
  6. Winding up Order. …
  7. Custody of Property. …
  8. Affairs of the company.