Winding up of a companyÂ is the process of dissolution of the company through which the company life will be end and its property is administered for the benefit of its members & creditors. Administrator who can be called as a liquidator is appointed to take control of the company, collects its assets, pays its debts and finally distributes any surplus among the members in accordance with their rights.
The winding up of the company may be initiated either voluntarily by the members or creditors of the company or wind up by Tribunal.
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