TMI BlogProvisions as to applications for winding up.X X X X Extracts X X X X X X X X Extracts X X X X ..... (b) by any creditor or creditors, including any contingent or prospective creditor or creditors; or (c) by any contributory or contributories; or (d) by all or any of the parties specified in clauses (a), (b) and (c), whether together or separately; or (e) by the Registrar; or (f) in a case falling under section 243, by any person authorised by the Central Govern ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... utory shall not be entitled to present a petition for winding up a company unless ___ (a) either the number of members is reduced, in the case of a public company, below seven, and, in the case of a private company, below two; or (b) the shares in respect of which he is a contributory, or some of them, either were originally allotted to him or have been held by him, and registered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 235 or 237, that the company is unable to pay its debts: Provided further that the Registrar shall obtain the previous sanction of the Central Government [6] to the presentation of the petition on any of the grounds aforesaid. (6) The Central Government [7] shall not accord its sanction in pursuance of the foregoing proviso, unless the company has first been afforded an opportunity of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n as the court thinks reasonable. ----------------------------------------- Notes:- [1] Substituted for "Court" by the Companies (Second Amendment) Act, 2002, w.e.f a date yet to be notified. * Should be inserted. [2] Inserted by the Companies (Second Amendment) Act, 2002, w.e.f a date yet to be notified. [3] Substituted by the Companies (Amendment) Act, 1960, Act 65 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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