Required ending up joint stock company by the Court

There are afterward six affidavit for the compulsatory ambagious up of the joint stock company:

1. Appropriate resolution

A aggregation may be anguish up by the cloister if a appropriate resolution is anesthetized for this Purpose.

2. Failure to arise business

When the aggregation does not arise business aural a year from its assimilation or suspends business for a year.

3. Approved address or meeting

Where absence is fabricated in appointment the approved address to the registrar's appointment or in captivation the approved affair aural assigned time or any two after anniversary accepted affairs beneath area 305 (b) in aggregation authorization 1984.

4. Reduction in amount of members

Where the amount of associates of accessible aggregation is bargain beneath seven or in case of clandestine aggregation beneath two.

5. Inability to pay its debts

Where the aggregation is clumsy to pay its debts in the afterward situation.

a. If a creditor whose debt exceeds. Rs.50,000 or one percent of its paid up basic which anytime is beneath beneath area 306 (a) Has served apprehension acute transaction and is not paid aural 30 days.

b. If beheading in favour of creditor charcoal aghast or

c. If the cloister is absolutely annoyed that the aggregation is absolutely clumsy to pay its debts.

6. Court's decision

the cloister is of the assessment that it is just and candid that the aggregation should be anguish up due to its mismanagement, dead-lock, counterfeit or any added reasonable grounds.