Central government power to seek winding up or orders under remedial company provisions when a company is liable. Where a company or body corporate is liable to be wound up and a governmental report indicates intervention is expedient due to specified circumstances, the Central Government may, unless the entity is already being wound up by the Tribunal, cause an authorised person to present to the Tribunal a petition for winding up on the ground that it is just and equitable, an application for an order under the remedial company provisions, or both.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Central government power to seek winding up or orders under remedial company provisions when a company is liable.
Where a company or body corporate is liable to be wound up and a governmental report indicates intervention is expedient due to specified circumstances, the Central Government may, unless the entity is already being wound up by the Tribunal, cause an authorised person to present to the Tribunal a petition for winding up on the ground that it is just and equitable, an application for an order under the remedial company provisions, or both.
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