1. Compulsory Winding Up of the Company
Sonali
BBA/13/913
Tuesday, December 29, 2015

2. Winding Up
• Winding up/liquidation represents the last
stage in company’s life.
• It is a proceeding by which a company is
dissolved.
• The company’s assets are disposed of , the
debts are paid off out of the realised assets ,
and the surplus , if any is then distributed
among the members in proportion to their
holdings in the company

3. Modes of
Winding Up
There are two modes of winding up of a
company.
Winding up by the Tribunal
Voluntary winding up which may be
(a) members’ voluntary winding up OR
(b) creditors’ voluntary winding up

4. Winding Up by
Tribunal
The is also known as compulsory winding up
and a company may be wound up in the
following cases.
Special resolution of the company
Default in delivering the statutory report to the
Registrar
Failure to commence/suspension of business
Reduction in membership
Inability to pay its debts
Just and equitable

5. Petition
An application to the Tribunal for the winding
up of a company is made by a petition . This
may be presented in following cases:
Petition by the company
Petition by any creditor/creditors
Petition by any contributory/contributories
Petition by Registrar
Petition by central Government

6. Commencement
of Winding Up
Advertisement of petition
Powers Tribunal
Consequences of winding up order
Procedure of winding up by the Tribunal
 Committee of inspection
Dissolution of Company
Contributory