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of <h1>Section 440: Winding Up Petition Can Be Presented During Voluntary Process if Creditors' Interests Are at Risk.</h1> Section 440 of the Companies Act, 1956, as amended, allows for a winding up petition to be presented to a Tribunal when a company is undergoing voluntary winding up. This petition can be filed by any authorized person under Section 439 or by the Official Liquidator. The Tribunal will only issue a winding up order if it determines that continuing the voluntary process would not adequately protect the interests of creditors or contributories. The amendment replaced the previous provision, which also included winding up under court supervision.
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