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Circumstances in which company may be wound up by the court.
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213.—A company may be wound up by the court if—
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(a) the company has by special resolution resolved that the company be wound up by the court;
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(b) default is made in delivering the statutory report to the registrar or in holding the statutory meeting;
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(c) the company does not commence its business within a year from its incorporation or suspends its business for a whole year;
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(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;
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(e) the company is unable to pay its debts;
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(f) the court is of opinion that it is just and equitable that the company should be wound up;
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(g) the court is satisfied that the company's affairs are being conducted, or the powers of the directors are being exercised, in a manner oppressive to any member or in disregard of his interests as a member and that, despite the existence of an alternative remedy, winding up would be justified in the general circumstances of the case so, however, that the court may dismiss a petition to wind up under this paragraph if it is of opinion that proceedings under section 205 would, in all the circumstances, be more appropriate.
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