Winding up petitions: standing and eligibility rules determine who may apply and when Tribunal leave is required. Applications to the Tribunal for winding up may be brought by the company, creditors (including contingent, prospective and secured creditors), contributories, the Registrar, authorised government persons, or government in specified cases. Contributories may petition despite fully paid shares but are subject to membership-number and share-holding duration eligibility. The Registrar may petition only on prescribed grounds with prior government sanction after affording the company a chance to represent and, where indicated, on evidence of inability to pay. Contingent or prospective creditor petitions require Tribunal leave, a prima facie case and security for costs.
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.
Winding up petitions: standing and eligibility rules determine who may apply and when Tribunal leave is required.
Applications to the Tribunal for winding up may be brought by the company, creditors (including contingent, prospective and secured creditors), contributories, the Registrar, authorised government persons, or government in specified cases. Contributories may petition despite fully paid shares but are subject to membership-number and share-holding duration eligibility. The Registrar may petition only on prescribed grounds with prior government sanction after affording the company a chance to represent and, where indicated, on evidence of inability to pay. Contingent or prospective creditor petitions require Tribunal leave, a prima facie case and security for costs.
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