Under Section 219 (f) of the Companies Act, “a company may be wound up the court, if the court is of the opinion that it is just and equitable, that the company should be wound up.” Companies have been wound up on this ground in the following circumstances:
• Fraudulent or illegal purpose
Inte Thomas Edward Brinsmead & Sons Ltd
• Failure of the substratum
Inre German Date Coffee.
Inre Baku Consolidated Oil Fields.
Inre Amalgamated Syndicate.
• Loss of confidence in the management
Loch v John Blackwood
• Expulsion or exclusion from management
Inre Westbourne Galleries Ltd
Inre Lundie Brothers Ltd
• The company is „a bubble‟
Inre London and County Coal Ltd
• Oppression of Minority
• Deadlock in management and membership
Inre Yenidje Tobacco Ltd
Inre Modern Retreading Ltd