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  • Winding Up

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    Sathish V Kumar
    21 views5 pages
    The document discusses voluntary winding up of a company without court intervention. It can be initiated in two ways - by an ordinary resolution passed by members or a special resolution passed by members or creditors. The voluntary winding up process commences when the resolution is passed. Advertisements must be published within 40 days of the resolution's passing in an official gazette and local newspaper, providing notice of the resolution. There are two types of voluntary winding up - members winding up and creditors winding up.

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    The document discusses voluntary winding up of a company without court intervention. It can be initiated in two ways - by an ordinary resolution passed by members or a special resolution passed by members or creditors. The voluntary winding up process commences when the resolution is passed. Advertisements must be published within 40 days of the resolution's passing in an official gazette and local newspaper, providing notice of the resolution. There are two types of voluntary winding up - members winding up and creditors winding up.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    21 views5 pages

    Winding Up

    Uploaded by

    Sathish V Kumar
    The document discusses voluntary winding up of a company without court intervention. It can be initiated in two ways - by an ordinary resolution passed by members or a special resolution passed by members or creditors. The voluntary winding up process commences when the resolution is passed. Advertisements must be published within 40 days of the resolution's passing in an official gazette and local newspaper, providing notice of the resolution. There are two types of voluntary winding up - members winding up and creditors winding up.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 5

    (Sec.

    484 to 520)

    • Winding up by members or the creditors of


    the company with out court intervention
    • Members and creditors are free to settle their
    affairs
    • They may apply for court for directions
    Circumstances(sec.484)
    • By passing an ordinary resolution

    • By passing special
    resolution
    Commencement (sec.486)
    • Shall be deemed to commence at the
    time when the resolution for its
    voluntary winding up is passed
    Advertisement(sec.485)
    • Within 40 days of the passing of resolution for
    the voluntary winding
    • Give notice of resolution by ad in the official
    gazette
    • Also some news paper circulating
    locally
    TYPES

    • Members winding up

    • Creditors winding up

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