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Companies Act 1948

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222Circumstances in which company may be wound up by court

A company may be wound up by the court if—

(a)the company has by special resolution resolved that the company be wound up by the court;

(b)default is made in delivering the statutory report to the registrar or in holding the statutory meeting;

(c)the company does not commence its business within a year from its incorporation or suspends its business for a whole year;

(d)the number of members is reduced, in the case of a private company, below two, or, in the case of any other company, below seven;

(e)the company is unable to pay its debts;

(f)the court is of opinion that it is just and equitable that the company should be wound up.

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