Companies Act, 2013

PART II

WINDING UP OF UNREGISTERED COMPANIES

Winding up of unregistered companies.

375. (1) Subject to the provisions of this Part, any unregistered company may be wound up under this Act, in such manner as may be prescribed, and all the provisions of this Act, with respect to winding up shall apply to an unregistered company, with the exceptions and additions mentioned in sub-sections (2) to (4).

(2) No unregistered company shall be wound up under this Act voluntarily.

(3) An unregistered company may be wound up under the following circumstances, namely:-

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(a)	-	if the company is dissolved, or has ceased to carry on business, or is carrying on business only for the purpose of winding up its affairs;
(b)	-	if the company is unable to pay its debts;
(c)	-	if the Tribunal is of opinion that it is just and equitable that the company should be wound up.