44)Gully Gilli Danda Club was formed as a Limited Liability Company under section 8 of the Companies Act, 2013 with the object of promoting Gilli Danda by arranging introductory courses at district level and friendly matches. The club has been earning surplus. Of late, the affairs of the company are conducted fraudulently and dividend was paid to its members. Mr. A, a member decided to make a complaint with Regulatory Authority to curb the fraudulent activities by cancelling the licence given to the company.
(i)Is there any provision under the Companies Act, 2013 to revoke the licence? If so, state the provisions.
(ii)Whether the company may be wound up?
(iii)Whether the Gully Gilli Danda Club can be merged with Stick Private Limited, a company engaged in the business of networking?

Answer rating: 100% (QA)

Answer i According to section 86 of the Companies Act 2013 the Central Government may by order revok... View the full answer