Q.Who can file a petition for winding up of a company before the Tribunal?

A winding-up petition can be filed by the company itself, a creditor, a contributory, the Registrar, or an authorised government authority.

The Companies Act, 2013 identifies a defined set of persons who are entitled to petition the Tribunal for a company's winding up, since not just anyone should be able to trigger such a serious step against a company.

The company itself. Where the members have passed a special resolution resolving that the company be wound up by the Tribunal, the company may itself present the petition.

A creditor. Any creditor of the company, including a contingent or prospective creditor, may petition for winding up, typically where the creditor believes the company's affairs justify it (for example, gross mismanagement affecting its ability to pay), subject to the Tribunal being satisfied that the petition is not being misused as a pressure tactic for debt recovery alone.

A contributory. A contributory — broadly, a present or past member of the company who would be liable to contribute to its assets on a winding up — may also petition, typically on grounds such as oppression, mismanagement, or the "just and equitable" ground.

The Registrar of Companies. The Registrar may petition for winding up, particularly on the grounds of fraudulent conduct/formation or prolonged default in statutory filings, generally after obtaining the previous sanction of the Central Government where the law requires it. …

Students sometimes forget that a contingent or prospective creditor (not just an existing one) is also entitled to petition, and often om …