https://www.taxtmi.com/acts?id=17672 Unregistered companies may be wound up under the Act subject to Part II provisions, but not voluntarily. Grounds for winding up include dissolution or cessation of business, inability to pay debts, and where it is just and equitable. An unregistered company is deemed unable to pay its debts if a creditor owed over one lakh rupees serves a demand not met within three weeks; if notice of suit against a member is served and relief is not procured within ten days; if execution on a decree is returned unsatisfied; or if inability to pay is otherwise proved. The definition excludes certain railway and registered companies and includes partnerships, LLPs, societies, co operatives, associations or companies with more than seven members when the petition is filed. en-us Sat, 02 Mar 2013 16:00:35 +0530 Tue, 16 Dec 2025 12:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17672 Unregistered companies may be wound up under the Act subject to Part II provisions, but not voluntarily. Grounds for winding up include dissolution or cessation of business, inability to pay debts, and where it is just and equitable. An unregistered company is deemed unable to pay its debts if a creditor owed over one lakh rupees serves a demand not met within three weeks; if notice of suit against a member is served and relief is not procured within ten days; if execution on a decree is returned unsatisfied; or if inability to pay is otherwise proved. The definition excludes certain railway and registered companies and includes partnerships, LLPs, societies, co operatives, associations or companies with more than seven members when the petition is filed. Act-Rules Companies Law Sat, 02 Mar 2013 16:00:35 +0530 https://www.taxtmi.com/acts?id=17672