Section 272 of CA 2013 : Section 272: Petition For Winding Up
CA 2013
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Explanation using Example
Imagine a scenario where a technology company, "Tech Innovations Ltd.", has been incurring losses for several years and is unable to pay off its debts. The board of directors decides that it is in the best interest of all stakeholders to close the company. They choose to file a petition for winding up the company with the Tribunal.
In this case, "Tech Innovations Ltd." itse...
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