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Companies Act, 2017
PART-XI WINDING UP OF UNREGISTERED COMPANIES
From: 2023-11-01 - To: 0000-00-00 428. Winding up of unregistered companies- (1) Subject to the provisions of this Part, any unregistered company may be wound up under this Act, and all the provisions of this Act with respect to winding up shall apply to an unregistered company, with the following exceptions and additions- (a) an unregistered company shall, for the purpose of determining the Court having jurisdiction in the matter of the winding up, be deemed to be registered in the Province where its principal place of business is situated or, if it has a principal place of business situate in more than one Province then in each Province where it has a principal place of business; and the principal place of business situate in the Province in which proceedings are being instituted shall, for all the purposes of the winding up, be deemed to be the registered office of the company; (b) no unregistered company shall be wound up under this Act voluntarily or subject to supervision of the Court; (c) the circumstances in which an unregistered company may be wound up are as follows (that is to say)- (i) 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; (ii) if the company is unable to pay its debts; (iii) if the Court is of opinion that it is just and equitable that the company should be wound up; (d) an unregistered company shall, for the purposes of this Act, bedeemed to be unable to pay its debts- (i) if a creditor, by assignment or otherwise, to whom the company is indebted in a sum exceeding fifty thousand rupees then due, has served on the company, by leaving at its principal place of business, or by delivering to the secretary, or some director, manager or principal officer of the company, or by otherwise serving in such manner as the Court may approve or direct, a demand under his hand requiring the company to pay the sum so due, and the company has for thirty days after the service of the demand neglected to pay the sum, or to secure or compound for it to the satisfaction of the creditor; (ii) if any suit or other legal proceeding has been instituted against any member…
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