TMI BlogPetition for winding upX X X X Extracts X X X X X X X X Extracts X X X X ..... older of fully paid-up shares, or that the company may have no assets at all or may have no surplus assets left for distribution among the shareholders after the satisfaction of its liabilities, and shares in respect of which he is a contributory or some of them were either originally allotted to him or have been held by him, and registered in his name, for at least six months during the eighteen months immediately before the commencement of the winding up or have devolved on him through the death of a former holder. (3) The Registrar shall be entitled to present a petition for winding up under section 271, except on the grounds specified in clause (a) 2 [ of that section ] : Provided that the Registrar shall obtain the previo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1) of section 271, by the Central Government or a State Government. (2) A secured creditor, the holder of any debentures, whether or not any trustee or trustees have been appointed in respect of such and other like debentures, and the trustee for the holders of debentures shall be deemed to be creditors within the meaning of clause (b) of sub-section (1). (3) A contributory shall be entitled to present a petition for the winding up of a company, notwithstanding that he may be the holder of fully paid-up shares, or that the company may have no assets at all or may have no surplus assets left for distribution among the shareholders after the satisfaction of its liabilities, and shares in respect of which he is a contributo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... creditor is admitted, the leave of the Tribunal shall be obtained for the admission of the petition and such leave shall not be granted, unless in the opinion of the Tribunal there is a prima facie case for the winding up of the company and until such security for costs has been given as the Tribunal thinks reasonable. (7) A copy of the petition made under this section shall also be filed with the Registrar and the Registrar shall, without prejudice to any other provisions, submit his views to the Tribunal within sixty days of receipt of such petition. 2. Substituted vide COMPANIES (AMENDMENT) ACT, 2019 w.e.f. 15-08-2019 before it was read as or clause (e) of that sub-section - - statute, statutory provision ..... X X X X Extracts X X X X X X X X Extracts X X X X
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