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identify some of the circumstances which may form the basis for a winding-up order under s...

identify some of the circumstances which may form the basis for a winding-up order under s 461(1)

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Answer #1

Section 401 of the Corporations Act states that if it is just and equitable ground to wind up the company. The section includes few criterias which includes-:

a) If the directors of the company works in their own interest rather than in the interest of the company

b) If the affairs of the company are managed through an unfair or oppressive manner including by any of its members

c) if the court believes that it just and equitable ground for the company to wound up

Just and equitable ground includes shareholder disputes, violation of any regulatory provisions etc.

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