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Company Winding Up

The process of liquidating a corporation involves firm winding up. To cover the company's obligations, all of the assets are realised and sold. According to the Companies Act of 2013, all of its property is managed, assets are realised, obligations are paid, and the excess is given to creditors.


It's a lengthy legal process that calls for expert legal assistance. However, a business may be forced to dissolve owing to court orders, which is another extremely complex legal matter.


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There are two types of winding up

  • Voluntary Winding-up:- When the shareholders decide to close or dissolve the company by striking it off the companies house.

  • Compulsory Winding-up:- When forced to wound up the company by an unsatisfied creditor. The company is given the notice to pay debts within a 7-day period. If the case goes in favour of the creditor, the company is forced by the court to liquidate its assets and wind up.

    • The world is facing a real crisis now while dealing with the Covid-19 pandemic. During this time, legal issues will be an additional hassle for the owners. However, you can rest assured. Sujata Associates has a dedicated team of professionals who can deal with your business legalities even during this pandemic. Our simple, easy, and budget-friendly online services are available 24/7. Company Winding-up in Kolkata is now just a click away.