Winding up of unregistered companies

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..... ct, 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: (a) if the company is dissolved, or has ceased to carry on business, or is carrying on business .....

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..... f the demand, neglected to pay the sum or to secure or compound for it to the satisfaction of the creditor; (b) if any suit or other legal proceeding has been instituted against any member for any debt or demand due, or claimed to be due, from the company, or from him in his character as a member, and notice in writing of the institution of the suit or other legal proceeding having been served on .....

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..... son authorised to be sued as nominal defendant on behalf of the company, is returned unsatisfied in whole or in part; (d) if it is otherwise proved to the satisfaction of the Tribunal that the company is unable to pay its debts. Explanation. For the purposes of this Part, the expression unregistered company (a) shall not include (i) a railway company incorporated under any Act of Parliament or oth .....

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