Winding Up

Winding up of a company represents the process whereby its life is ended and its property administrated for the benefit of its creditors and members.

If the court order to wind up a company according to the special resolution of shareholders or by the application of creditors or contributors or by the application of the registrar in case of failure of doing certain formality by the company or for some other logical reason, it is called compulsory winding up by the court.