Tag Archives | Liquidation

Winding up by National Company Law Tribunals

In this article we will discuss about the Winding up by National Company Law Tribunals:- 1. Grounds for Compulsory Winding Up 2. Who may Petition 3. Procedure for Winding up 4. Voluntary Winding up 5. Members’ Voluntary Winding up 6. Creditors’ Voluntary Winding up 7. Consequences of Winding up Generally 8. Preferential Payments 9. Overriding […]

Liquidator’s Final Statement of Account

The liquidator’s task is to realise the assets and disburse the amounts among those who have a rightful claim to it; in every case the liquidator has to prepare a statement showing how much he realised and how the amount was distributed. The following is the order in which disbursements will be made by the […]

Statement of Affairs under Liquidation

The officers and directors of a company under liquidation must, according to section 454 read with section 511 A, make out and submit, within 21 days of the Tribunal’s order (or within such extended time, not exceeding 3 months, as the liquidator or the Tribunal may allow), a statement showing the following:— (a) The assets […]

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