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CS Professional · Corporate Restructuring, Valuation and Insolvency · Winding-up by Tribunal under the Companies Act, 2013

The Registrar of Companies wishes to present a petition for winding up of Kaveri Agro Ltd on a ground under section 271 other than the ground in clause (a) of that section. What must the Registrar do before presenting it?

The Registrar must obtain the previous sanction of the Central Government. Under section 272(3), that sanction cannot be given unless the company has first been given a reasonable opportunity of making representations. The Registrar needs neither contributor consent nor prior Tribunal permission.

  1. AObtain previous sanction of the Central Government, which must first give the company a reasonable opportunity to make representationsCorrect
  2. BObtain consent of a majority of the contributories of the company
  3. CObtain a prior order of the Tribunal permitting the filing
  4. DFile it directly, since no sanction is required for the Registrar

Explanation

Under section 272(3), the Registrar may petition on grounds under section 271 except clause (a), but must obtain previous sanction of the Central Government. The Central Government cannot sanction unless the company has had a reasonable opportunity of making representations.

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