Companies (Consolidation) Act, 1908

Circumstances in which company may be wound up by court.

129. A company may be wound up by the court—

(i) if the company has by special resolution resolved that the company be wound up by the court :

(ii) if default is made in filing the statutory report or in holding the statutory meeting :

(iii) if the company does not commence its business within a year from its incorporation, or suspends its business for a whole year :

(iv) if 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 :

(v) if the company is unable to pay its debts :

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