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of <h1>Entities Eligible to Petition for Company Winding Up Under Section 439 of the Companies Act, 1956 Explained</h1> Section 439 of the Companies Act, 1956 outlines the entities eligible to petition for the winding up of a company. These include the company itself, creditors, contributories, the Registrar, and government-authorized individuals. A secured creditor is considered a creditor under this section. Contributories can file a petition even if they hold fully paid-up shares or the company lacks assets. Specific conditions apply to contributories and the Registrar for filing petitions. The Central Government must sanction petitions by the Registrar, ensuring the company can make representations. Contingent or prospective creditors require Tribunal approval before their petitions are accepted.
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