#companywoundup #tribunal #sec271 #notes #llb Section 271 The company may require to wound up by the tribunal under section 271 under the following circumstances: 1. In case the company does not pay the debts, the debt of the creditor exceeding Rs 1 lakhs is due and unpaid by the company within 21 days from the due date, or any execution decree is passed in favour of the creditor or tribunal has a reason that company will not pay off any debts then company would be liable for