Winding Up of Company

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Winding Up of a Company can be initiated either voluntarily by the shareholders or forced by a tribunal/court. When shareholders wind the company a Board resolution is to be passed and the RoC is to be intimated. On completion of requisite formalities the RoC will issue an order to wound up the company. A company will wound up by a tribunal/court for various reasons such as non-filing of returns/financial statements, unable to pay debts, fraudulent transactions, inimical to national interest, etc. Though, winding up is a tough process it has to be done or the annual compliances are to be continued straining your resources.
 
 
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