On which of the following grounds may a company be compulsorily wound up?

Compulsory winding-up is a legal process through which a court orders a company to be liquidated or dissolved. This occurs when the company is unable to pay off its debts and meet its obligations to creditors. Out of the options given, "it fails to commence business within a year of its incorporation" is a ground on which a company may be compulsorily wound up. This is because under the Nigerian Companies and Allied Matters Act (CAMA), a company must commence business within one year of its incorporation; failure to do so constitutes sufficient grounds for compulsory winding-up. Other grounds for compulsory winding-up include inability to pay debts, fraudulent activities, and public interest. If a company is found to have engaged in illegal or fraudulent activities, the court may order it to be compulsorily wound up in the interest of justice and public order. Therefore, "it fails to commence business within a year of its incorporation" is one of the grounds on which a company may be compulsorily wound up under CAMA.