This document discusses the different modes of winding up a company, including compulsory winding up, voluntary winding up, and winding up subject to court supervision. It outlines the processes for members' voluntary winding up and creditors' voluntary winding up. These include passing resolutions, appointing liquidators, and holding final meetings. The document also covers priority of payments in liquidation, listing legal charges, liquidators, expenses, preferential creditors, debenture holders, unsecured creditors, preference shareholders, and equity shareholders from first to last priority.

1. Prepared by –
Vijay Somase
Under The Guidance Of-
Mahale .S. Sir

2. LIQUIDATION

3. COMPULSORY WINDING UP
VOLUNTARY WINDING UP
WINDING UP SUBJECT TO
SUPERVISION OF COURT
MODES OF WINDING UP

4. COMPULSORY WINDING UP
 Passing of special resolution for the winding up
 Holding statutory meeting
 Failure to commence business
 Reduction in membership
 Inability to pay debts

5. VOLUNTARY WINDING UP
Ordinary
resolution
Special
resolution
Members
voluntary
winding up
Creditors
voluntary
winding up

6. MEMBERS VOLUNTARY WINDING UP
• Falling of special resolution
• Appointment of liquidator
• End of right of directors
• General meeting every year
• Final meeting

7. CREDITORS VOLUNTARY WINDING UP
 Meeting of creditors
 Appointment of liquidator
 Inspection committee
 Meeting of members and creditors
 Final meeting

8. WINDING UP SUBJECT TO
SUPERVISION OF COURT
 Fraud in company
 Harmful product of company
 Inability to pay debts & etc

9. PRIORITY OR ORDER OF PAYMENT
1.Legal charges
2.Liquidators remuneration
3.Liquidation expenses
4.Preferential creditors
5.Debentures holders
6.Unsecured creditors
7.Preference shareholders
8.Equity shareholders

10. THANK
YOU