Winding up by the court 

80. (a) The court may order the winding up of the company as stated in section 75 (b) under following circumstances: 

        (1) The company at a general meeting resolves by special resolution to wind it ip by the court. 

        (2) The company does not commence business within a year from its incorporation. 

        (3) The company is unable to pay it debts. 

        (4) it is proved that the company has repeatedly failed to perform an obligation required by law. 

        (5) It is proved to the court that the business carried out by a company is illegal. 

        (6) The directors of the company are conducting the business of the company for their personal benefit rather than for the benefit of the company’s members. 

        (7) The court is of the opinion that is just and equitable that the company should be wound up. 

        (b) For the purpose of sub-section (a) 3 above the court shall deem that the company is unable to pay its debts if a creditor to whom the company is indebted in a sum exceeding MRf. 5,000.00 than due has served on the company a written demand requiring the company to pay the sum so due and to the company has for 15 days thereafter neglected to pay the sum or a court has issued a judgement debt against the company and the company has failed comply in whole or in part to the judgement. 
 
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