Nature of grievance

The law confers a right upon a creditor to move for the winding up of a Company (Pvt Ltd or Public Ltd) if the Company without having just reasons, but refuses to pay the legitimate dues of the petitioning creditor. Winding up proceedings are maintainable against the Companies who are incorporated under the Companies Act, 1956 or Companies Act, 2013, wherein under certain circumstances set out under the said Act, the Company may be told to wind up its operations; and one of the grounds on which the Company may be wound up is, when it is unable to its debts