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Essay text:
They are :
a. Winding up by the court.
b. Voluntary winding up,
o Members Voluntary winding up.
o Creditiors Voluntary winding up.
c) Winding up subject to supervision of the court
A. WINDING UP BY THE COURT:
A company may be wound up by the court in following situations. Here, the court means "High Court".
i. If the company itself, has passed a special resolution in the general meeting to wound up its affairs. Special resolution means, resolution passed by three-fourth (3/4") of the members present.
ii. If there is a default, in holding the statutory meeting or in delivering the statutory report to the Registrar...
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