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Corporate Restructuring – Winding Up and Modes of Winding Up

CS Professional Course – Corporate Restructuring – Winding Up and Modes of Winding Up

Winding Up
Wind up means to close or to put an end to something. Winding up of a Company means putting up an end to the life of a company. On wounding up all the affairs of the company are closed, all the assets of the company are sold for the benefit of creditors and members and all the liabilities are paid off. And if any surplus assets are left then are distributed among the members of the company.
Winding up has been defined under Section 2(94A) of the Companies Act, 2013 or Liquidation under the Insolvency and Bankruptcy Code, 2016.
Modes of Winding up of a Company
The company may be wound up in the following modes:
  1. Winding up by Tribunal (National Company Law Tribunal)
  2. Voluntary Liquidation

Learn complete CS Professional Corporate Restructuring – Winding Up and Modes of Winding Up at Takshila Learning official website.

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