7/23/2019 Winding Up by the Tribunal

1/13

Gr

Winding up by the

Tribunal

A D I T Y A ( 1 4 0 1 0 3 0 0 8 ) | A I ! A " T ( 1 4 0 1 0 # 0 # 8 ) | A T I $ ( 1 4 0 1 0 3 1 0 # ) | % ! & Y A " % ( 1 4 0 10 # 1 # 3 ) | Y ' A " A

GD* #014 + 1, - %e.tion D I"%TIT/T& '$ *A"AG&*&"T T&!"''GY

7/23/2019 Winding Up by the Tribunal

2/13

Gr

What i2 "T

GD* #014 + 1, - %e.tion D I"%TIT/T& '$ *A"AG&*&"T T&!"''GY

"ational opany a5 Tribunal i2 a 6ua2i 7 udi.ial body inIndia that goern2 the .opanie2 in India9

It i2 e2tabli2hed under opanie2 A.t: #013 and ha22u..eeded the opany a5 ;oard9

%oe o< the iportant po5er o< the .ourt2 li=e po5er to2an.tion redu.tion o< .apital: po5er to approe 2.hee2 oWinding up o< a .opany i2 the pro.e22 5hereby it2 li

7/23/2019 Winding Up by the Tribunal

4/13

Gr

ir.u2tan.e2 - Winding up bytribunal

/C% #1 %pe.ial e2olution by the opany

Inability o< the opany to pay debt2

opany a.ting again2t the %oereignty E Integrity o< India

De

7/23/2019 Winding Up by the Tribunal

5/13Gr

etition

7/23/2019 Winding Up by the Tribunal

6/13Gr

Do.uent2 to be ?led

etition

7/23/2019 Winding Up by the Tribunal

7/13Gr

ro.e22

7/23/2019 Winding Up by the Tribunal

8/13

Gr

o5er2 o< the Tribunal

egulation o< .ondu.t o< aHair2 o< the opany in

7/23/2019 Winding Up by the Tribunal

9/13

Gr

o5er2 o< the Tribunal

To order payent into ban= oney2 due to the .opany

To order re.oery o< .o2t o< 5inding up

To 2uon per2on2 2u2pe.ted o< haing the property o< the .opany

To order publi. eKaination o< prooter2: dire.tor2 et.9

To arre2t an ab2.onding .ontributory

To order the di22olution o< the .opany

GD* #014 + 1, - %e.tion D I"%TIT/T& '$ *A"AG&*&"T T&!"''GY

7/23/2019 Winding Up by the Tribunal

10/13

Gr

a2e - Ming?2her Airline2

Ming?2her Airline2 had been reporting lo22 2in.e it .oen.ed operation2 in

It 5a2 de.lared a non per

7/23/2019 Winding Up by the Tribunal

11/13

Gr

e.oendation

Tribunal2 to .oe under the abit o< Nudi.ial 2y2te and not a2 indepen2o that the poli.y o< 2eparation o< po5er2 2tri.tly adhered to9

A..elerate the pro.e22 o< 5inding up or reial o< 2i.= unit2: a2 deeetribunal9

There are 13 la=h .opanie2 regi2tered out o< 5hi.h only L la=h.opanie2 and 4 la=h .opanie2 need to be 5ound up but the 5ay thepro.edure i2 .urrently .opli.ated under the high .ourt 2.hee that theare not going

7/23/2019 Winding Up by the Tribunal

12/13

Gr

e

7/23/2019 Winding Up by the Tribunal

13/13

Gr

T!A"M Y'/

GD* #014 + 1, - %e.tion D I"%TIT/T& '$ *A"AG&*&"T T&!"''GY