The Companies Act, 1956
484. Circumstances in which company may be wound up voluntarily.
(1) A company may be wound up voluntarily
(a)when the period, if any, fixed for the duration of the company by the articles has expired, or the event, if any, has occurred, on the occurrence of which the articles provide that the company is to be dissolved, and the company in general meeting passes a resolution requiring the company to be wound up voluntarily;
(b)if the company passes a special resolution that the company be wound up voluntarily.
(2) In this Act, the expression “a resolution for voluntary winding up” means a resolution passed under clause (a) or (b) of sub-section (1).