The scope is wide. The reasons are numerous and the sections are sundry leading to winding up of the companies. The Companies Act, 2013 provides for two kinds of winding up: 1. Winding up by Tribunal (S. 27), 2. Voluntary winding up further divided into two namely: A. Members’ and B. Creditors’ voluntary winding up. (S. 270) Reasons for winding up: If the company is unable to pay its debts, resolved by special resolution that company be wound up by the Tribunal, company has acted against the interests of sovereignty and integrity of India, Tribunal has ordered winding up of the company for having become a sick company and may others.
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