Section 366 CAMA 2020

Section 366 Companies and Allied Matters Act is about Power of the Commission to present winding-up petition. It is under Chapter 13 (Protection of minority against illegal and oppressive conduct action by or against the company) of the Act.

If, in the case of any body corporate liable to be wound up under this Act, it appears to the Commission from a report made by an inspector under section 363 that it is expedient in the public interest that the body corporate should be wound up, the Commission may (unless the body corporate is already wound up by the Court) present a petition for it to be wound up if the Court considers it just and equitable to do so.