Page 221 - DCOM106_COMPANY_LAW

Company Law Manpreet Kaur, Lovely Professional University

Notes Unit 14: Winding Up of Companies

CONTENTS
Objectives

Introduction
14.1 Winding Up

14.2 Modes of Winding Up (S. 425)
14.2.1 Winding Up by the Court
14.3 Procedure for Winding Up Order

14.4 Consequence of Winding Up Order
14.4.1 Statement of Affairs to be made to the Liquidator (s.454)
14.4.2 Committee of Inspection

14.5 General Powers of the Court
14.6 Voluntary Winding Up
14.6.1 Consequences of Voluntary Winding Up

14.7 Types of Voluntary Winding Up
14.7.1 Members’ Voluntary Winding up

14.8 Summary
14.9 Keywords
14.10 Review Questions

14.11 Further Readings

Objectives

After studying this unit, you will be able to:
Describe the modes of winding up;

Evaluate the consequences of winding up;
Describe voluntary winding up;
Explain the general powers of the court in relation to winding up.

Introduction

For the purposes of jurisdiction to wind up companies, the expression “registered office” means
the place which has longest been the registered office of the company during the six months
immediately preceding the presentation of the petition for winding up. (S.10)

216 LOVELY PROFESSIONAL UNIVERSITY