255. A company may be wound up by the court if
| (a) the company has by special resolution resolved that the company be wound up by the court; |
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| (b) default is made in delivering the statutory report to the Registrar or in holding the statutory meeting; |
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| (c) the company does not commence its business within a year from its incorporation, or suspends its business for one year; |
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| (d) the number of members is reduced to, in the case of a private company, below two, or, in the case of public company, below seven; |
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| (e) the company is unable to pay its debts ; |
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| (f) the court is of opinion that it is just and equitable that the company should be wound up. |
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Sri Lanka Consolidated Acts