Winding up is the process of closing down a company and distributing its assets. It can be voluntary (by members' resolution), compulsory (by tribunal order), or through fast track exit (for small companies). The process involves settling debts, distributing assets, and striking off from MCA records.
Members decide to wind up by passing special resolution.
Ordered by tribunal due to default or inability to pay debts.
Simplified process for small companies with no assets/liabilities.
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