Section 571 - Cases In Which Company May Be Wound Up By Court

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;

(b) default is made in delivering the statutory report to the Commission or in holding the statutory meeting;

(c) the number of members is reduced below two in the case of companies with more than one shareholder;

(d) the company is unable to pay its debts;

(e) the condition precedent to the operation of the company has ceased to exist; or

(f) the Court is of opinion that it is just and equitable that the company should be wound up.