1. Compulsory
Winding Up by
Tribunal
By:- Nasir Yaseen

2. Grounds For Compulsory
Winding Up U/S 433
 Special Resolution U/S 433 [a]
 Default In Holding Statuary Meeting U/S 433 [b]
 Failure To Commence Business U/S 433 [c]
 Reduction Of Members U/S 433 [d]
 Inability to pay debts U/S 433 [e]
 Just And Equitable U/S 433 [f]
 No Filling OF B/S And P/L Account With Registrar
U/S 433[g]
 Company Acts Against Sovereignty And Integrity
U/S 433 [h]
 If Circumstances U/S 424G Exist

3. Special Resolution Default In Holding
U/S 433 [a] Statuary Meeting U/S
433 [b]
Company resolution Statuary meeting
resolved. within 6 months.
Opposition by public Statuary report
or company interest. delivered to Registrar.

4. Failure To Reduction Of Members
Commence Business U/S 433 [d]
U/S 433 [c]
7 in public co.
Commence business 2 in private co.
within a year.
Members liable if
Business suspended continues.
temporarily.
Escape for members
Company doing from personal liability.
business abroad.

5. Inability to pay debts Just And Equitable
U/S 433 [e] U/S 433 [f]
Commercially Wide powers to
solvent. Tribunal.
Assets realized less. Loss of substratum.
Deadlock in management
Oppression of minority
Fraudulent purpose

6. No Filling OF B/S And Company Acts
P/L Account With Against Sovereignty
Registrar U/S 433[g] And Integrity U/S 433
[h]
Default in filling B/S
and P/L. Against freedom or
development of
Return of 5 country.
consecutive years.

7. If Circumstances U/S 424G Exist
Sick industrial units became viable.

8. Petition For Winding Up
 U/S 439 Following can make petition.
 Company U/S 439[1]a
 Creditors U/S 439[1]b
 Contributory petition U/S 439[1]c
 Joint petition U/S 439[1]d
 Registrar petition U/S[1]e
 Person authorized by govt. U/S 439[1]f
 Central or state govt. U/S 433[h]
 Official liquidator petition U/S 440

9. Company U/S Creditors U/S 439[1]b
439[1]a
Directors passing Including everyone.
special resolution at
general meeting.
Cr’s must not be
disputed.
Company is
insolvent.
Pecuniary claim.
Its rare because of
voluntarily winding
up.

10. Contributory petition Joint petition U/S
U/S 439[1]c 439[1]d
Persons liable to
contribute in assets. Joint petition by
creditors and
Members reduction contributories.
7 in public
2 in private.

11. Registrar petition Person authorized by
U/S[1]e govt. U/S 439[1]f
Default in statuary
report.
After inspection govt.
can do so.
Commence
business.
Registrar can also
Members reduced. move application on
Unable to pay debts. behalf.
Failing in presenting
B/S and P/L account
or 5 year return.

12. Central or state govt. Official liquidator
U/S 433[h] petition U/S 440
Against interest of When voluntarily
country. winding up fails.
Only govt. can move Liquidator can move
application. an application.

13. Official Liquidator
 Appointment.
 Remuneration.
 Duties.
 Rights/Powers.

14. Appointment
 Maybe appointed by panel of experts
U/S448[1]a
 Corporate bodies by govt. U/S 448[1]b
 Whole or part time officer by govt. U/S
448[1]c

15. Remuneration
 Approved by Tribunal.
 Not more than 5% of debt realized.
 By govt.

16. Duties
 To submit preliminary report.
 To take company assets.
 Comply with directors.
 Summon meetings .
 Directions from Tribunal.
 To keep proper books.
 To submit accounts.
 Committee of inspection.
 Information about pending liquidation.
 Payments to Public accounts Of India.

17. Rights/Powers
 Sanctioned Rights  Born
Rights
U/S 457[1] U/S457[2]
 Forwhich sanction  These are enabled
is needed by Rights
Tribunal.

18. THANK YOU
Nasir Yaseen
Corporate Law