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What are the basic requirements to file Winding up Petition?
01-May-2023 (In Corporate Law)
What are the basic requirements to filed company winding up petition.
A company may , voluntary wind up its affairs, if it is unable to carry on its business, or if it was formed only for a limited purpose, or if it is unable to meet its financial obligation, and etc. A company may voluntary wind up itself, under any of the two modes:
1. Members voluntarily winding up
2. Creditors voluntarily winding up
A company may voluntarily wind up itself, either by passing:
An ordinary resolution, where the purpose for which the company was formed has completed, or the time limit for which the company was formed, has expired.
Or
By way of special resolution
Both types of resolution shall e passed in the general meeting of the company.
1. Members voluntarily winding up
2. Creditors voluntarily winding up
A company may voluntarily wind up itself, either by passing:
An ordinary resolution, where the purpose for which the company was formed has completed, or the time limit for which the company was formed, has expired.
Or
By way of special resolution
Both types of resolution shall e passed in the general meeting of the company.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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