https://www.taxtmi.com/acts?id=15812 Winding up of unregistered companies is permitted under the Act except that voluntary winding up is prohibited; grounds include dissolution, cessation of business, carrying on only to wind up, inability to pay debts, or the Tribunal's view that winding up is just and equitable. Inability to pay arises from an unsatisfied creditor demand served on the company, institution of proceedings against a member with notice where the company does not take prescribed steps, execution returned unsatisfied, or other proof to the Tribunal's satisfaction. The term "unregistered company" excludes certain railway companies and registered companies and otherwise covers partnerships, LLPs and societies exceeding the member threshold. en-us Fri, 23 Dec 2011 16:44:08 +0530 Fri, 23 Dec 2011 16:44:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15812 Winding up of unregistered companies is permitted under the Act except that voluntary winding up is prohibited; grounds include dissolution, cessation of business, carrying on only to wind up, inability to pay debts, or the Tribunal's view that winding up is just and equitable. Inability to pay arises from an unsatisfied creditor demand served on the company, institution of proceedings against a member with notice where the company does not take prescribed steps, execution returned unsatisfied, or other proof to the Tribunal's satisfaction. The term "unregistered company" excludes certain railway companies and registered companies and otherwise covers partnerships, LLPs and societies exceeding the member threshold. Act-Rules Bills Fri, 23 Dec 2011 16:44:08 +0530 https://www.taxtmi.com/acts?id=15812