Winding Up

the winding up of a company is the last stage of a companies’ existence. There may be several reasons for winding up of the company including mutual agreement among stakeholders, loss, bankruptcy, death of promoters etc. Winding up is the process by which the company is put to an end that is the process through which its corporate existence is ended and it is thereafter finally dissolved. As per section 270 of the Companies Act, 2013 a company can be wound up either by a tribunal or by way of voluntary winding up. The provisions of the act lay down proper procedures for the winding up of a company.