Who can apply for winding up a company?
By passing a special resolution to wind up voluntarily for any reason whatsoever. b) Shareholders must pass an ordinary or special resolution for winding up of the company. 1) Appointment of liquidator and fixation of his remuneration by the General Meeting.
Who Cannot file a petition for winding up?
But a contributory cannot make a petition for the winding up of the company under clause (a) and (b) stated above unless at least some of the shares held by him were originally allotted to him or have been held by him and registered in his name for at least 6 months during the 18 months before the commencement of the …
Who are the persons who can file petition for winding up of the company Mcq?
As per Section 272 , the following are the persons who can file a petition for winding up of the company. The Company. Any Contributory or Contributories. The Registrar with Approval Central Government and is given an opportunity of Being Heard.
Who are the members of winding up committee?
It shall consist of 12 members of which are shareholders, contributories and creditors of the company. The company liquidator shall convene a meeting of creditors and contributories of the company within 30 days from the date of order of winding up so that the tribunal can decide the composition of the committee.
Who can file petition for winding up under section 272?
4. Any person authorized by Central Government shall be entitled to present a petition for the winding up of the Companyif Tribunal is of the opinion that winding up of the Company is just and equitable or if the Company has acted against the interests of the sovereignty and integrity of India.
Can an employee of a company be heard in a winding up petition?
In Sanjay Sadanand Varrier v M/s Power Horse India Pvt Ltd, a larger bench of Bombay High Court recently held that an employee can maintain a petition for winding up of a company as a creditor based on a claim of the recovery of unpaid employment dues.
Who may be appointed as director?
Only an Individual (living person) can be appointed as a Director in a Company. A body corporate or business entity cannot be appointed as a Director in a Company. A company can have a maximum of fifteen Directors – it can be increased further by passing a special resolution.
Who are the creditors of company?
A creditor is an individual or business that has lent funds to a business and is owed money. A debtor is an individual or business who has borrowed funds from a business and so owes it money. There is a cost in borrowing funds.
Who will appoint liquidator in case of compulsory winding up?
Official liquidator is appointed in the case of compulsory winding up of a company. Official liquidator is the officer of the High Court and he is appointed from the date of order of winding up of the company.