Under section 271 of the Companies Act, 2013, a company may, on a petition under section 272, be wound…

Section 271 of the Companies Act, 2013 provides that a company may, on a petition under section 272, be wound up by the Tribunal, which section 2(90) defines as the National Company Law Tribunal constituted under section 408. The grounds include a special resolution of the company, acts against the sovereignty and integrity of India or public order, fraudulent conduct of its affairs, default in filing financial statements or annual returns for five consecutive financial years, and the just and equitable ground; inability to pay debts is now dealt with under the Insolvency and Bankruptcy Code, 2016. (Formerly, under section 10 of the Companies Act, 1956, the High Court of the registered office had jurisdiction.)

The NCLAT hears appeals from the NCLT and does not order winding up at first instance, and the Registrar of Companies may present a winding-up petition but cannot order winding up.