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[Cites 0, Cited by 12] [Section 242] [Entire Act]

Union of India - Subsection

Section 242(1) in The Companies Act, 2013

(1)If, on any application made under section 241, the Tribunal is of the opinion—
(a)that the company’s affairs have been or are being conducted in a manner prejudicial or oppressive to any member or members or prejudicial to public interest or in a manner prejudicial to the interests of the company; and
(b)that to wind up the company would unfairly prejudice such member or members, but that otherwise the facts would justify the making of a winding-up order on the ground that it was just and equitable that the company should be wound up,
the Tribunal may, with a view to bringing to an end the matters complained of, make such order as it thinks fit.