Master TDS & TCS Provisions with Critical Issues. Register Now!

Winding Up of Companies By the Court

12 November 2020

What're the Grounds of winding Up by the Court?

Reply
Follow
Share

1 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5956 Points)
Replied 12 November 2020

Compulsory winding up takes place when a creditor of an insolvent company asks the court for a wind up. If the company goes into liquidation, the court of law appoints a liquidator for the liquidation. The primary objective of the liquidator is to raise as much funds as needed to pay the creditors.