Section 271 Circumstances in which company may be wound up by Tribunal
- Chapter
- XX · Winding Up
- Amendments
- 1
- Last changed
- 15 November 2016
Substituted by Insolvency and Bankruptcy Code, 2016, s. 255, with effect from 15 November 2016. Earlier read: "section 271"271. Circumstances in which company may be wound up by Tribunal.—
Substituted by Insolvency and Bankruptcy Code, 2016, s. 255, with effect from 15 November 2016. Earlier read: "section 271"A company may, on a petition under section 272, be wound up by the Tribunal,—
Substituted by Insolvency and Bankruptcy Code, 2016, s. 255, with effect from 15 November 2016. Earlier read: "section 271"(a) if the company has, by special resolution, resolved that the company be wound up by the Tribunal;
Substituted by Insolvency and Bankruptcy Code, 2016, s. 255, with effect from 15 November 2016. Earlier read: "section 271"(b) 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;
Substituted by Insolvency and Bankruptcy Code, 2016, s. 255, with effect from 15 November 2016. Earlier read: "section 271"(c) 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;
Substituted by Insolvency and Bankruptcy Code, 2016, s. 255, with effect from 15 November 2016. Earlier read: "section 271"(d) 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
Substituted by Insolvency and Bankruptcy Code, 2016, s. 255, with effect from 15 November 2016. Earlier read: "section 271"(e) if the Tribunal is of the opinion that it is just and equitable that the company should be wound up.