Section 271 Companies Act 2013 grounds for winding-up by NCLT do NOT include 'INABILITY TO PAY DEBTS'. This is because:
Answer & Solution
Correct answer: A.
1. Originally Section 271 Companies Act 2013 included 'inability to pay debts' as a ground for winding up by NCLT.
2. The Insolvency and Bankruptcy Code, 2016 (Section 255 read with the Eleventh Schedule) SUBSTITUTED Section 271 and DELETED 'inability to pay debts' as a ground.
3. Inability to pay debts is now governed exclusively by the IBC: financial creditor application under Section 7, operational creditor under Section 9, corporate applicant under Section 10.
4. The remaining Section 271 grounds (special resolution, sovereignty/integrity, fraudulent conduct, non-filing of returns for 5 years, just and equitable) survive.
5. Hence option A is correct.
_Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 271 (as amended by IBC 2016); Insolvency and Bankruptcy Code 2016_
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