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Yashika Thakran
Section 271 Companies Act 2013
Circumstances in which company may be wound up by Tribunal
#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
Yashika Thakran
SECTION 249 (Restriction on making application u/s 248 in certain cases)
#Section249 #Section248 #companiesact2013 #rule4companiesact #companylaw #law #llb #sections #notes Section 248(1) Where the registrar has a reasonable cause to believe that: (a) The Company has failed to commence its business within one year of its incorporation, Or (b) A Company is not carrying on any business or operation for a period of two immediately preceding financial years and has not made any application within such period for obtaining the status of dormant Company