433. Circumstances in which company may be wound up by Court. A company may be wound up by the Court,-
if the company has, by special resolution, resolved that the company be wound up by the Court;
if default is made in delivering the statutory report to the Registrar or in holding the statutory meeting;
if the company does not commence its business within a year from its incorporation, or suspends its business for a whole year;
if the number of members is reduced, in the case of a public company, below seven, and in the case of a private company, below two;
if the company is unable to pay its debts;
if the Court is of opinion that it is just and equitable that the company should be wound up.