Who may Petition for Compulsory Winding Up?
The following persons can file a petition:-
(a) The company: – A company may itself file a petition for winding up after it has passed a special resolution. The directors have no powers to present a petition for winding up.
(b) Creditors: – The word creditor here refers to every person having a pecuniary claim against the company, whether actual or contingent, and such a person is competent to file a petition for the winding up of the company.
Disputed debt: – A creditor whose debt is disputed cannot get a winding up order. The court may either order the petition or stand over until the validity of the debt can be determined, or may dismiss a petition.
(c) Petition by any contributory: – Section 214 defines a contributory as any person liable to contribute to the assets of the company in the event of its being wound up. It however includes all persons who at the date:-
(i) are members of the company or,
(ii) have been members within a year immediately proceeding that date.
(d) By official receiver.
(e) By Attorney General in consequence of a report of inspectors upon the company’s affairs.
