Winding up of a company is a critical legal process that marks the closure of a
business entity, leading to the liquidation of its assets, settlement of
liabilities, and formal dissolution. This process can be initiated voluntarily
by the company’s shareholders and creditors or compulsorily by the National
Company Law Tribunal (NCLT) due to insolvency, mismanagement, fraud, or other
legal violations. In India, the winding-up process is primarily governed by the
Companies Act, 2013, and the Insolvency and Bankruptcy Code (IBC), 2016, both of
which provide a structured legal framework for orderly corporate dissolution.
business entity, leading to the liquidation of its assets, settlement of
liabilities, and formal dissolution. This process can be initiated voluntarily
by the company’s shareholders and creditors or compulsorily by the National
Company Law Tribunal (NCLT) due to insolvency, mismanagement, fraud, or other
legal violations. In India, the winding-up process is primarily governed by the
Companies Act, 2013, and the Insolvency and Bankruptcy Code (IBC), 2016, both of
which provide a structured legal framework for orderly corporate dissolution.
This research aims to analyse the various types of winding up, including
voluntary winding up (under Section 59…
