Section 243 - Application for winding up of company or an order under section 397 or 398. - Companies Act, 1956

Application for winding up of company or an order under section 397 or 398. 243. If any such company or other body corporate [1] [* * *] is liable to be wound up under this Act and it appears to the Central Government from any such report as aforesaid that it is expedient so to do by reason of any such circumstances as are referred to in sub-clause (i) or (ii) of clause (b) of section 237, the Central Government may, unless [2] [the company or body corporate] is already being wound up by the [3] [Tribunal], cause to be presented to the [4] [Tribunal] by any person authorised by the Central Government in this behalf, ____ (a) a petition for the winding up of [5] [the company or body corporate] on the ground that it is just and equitable that it should be wound-up; (b) an application for an order under section 397 or 398; or (c) both a petition and an application as aforesaid. -------------------------------------- Notes:- [1] Omitted by the Companies (Amendment) Act, 2000, 13-12-2000, as provisions relating to or any such managing agents, secretaries and treasure or associate bring a body Corporate had become redundant after abolition of system by Act 17 of 1969. [2] Substituted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. [ Substituted for the company, body corporate, managing agent, secretaries and treasures or associate , ]. [3] Substituted for "Court" by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified [4] Substituted for "Court" by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified [5] Substituted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. Words for the company, body corporate, managing agent, secretaries and treasures or associate ,