1. PRESENTATION

2. Presented by:
Awais Ali
Presented to:
Sir Usman

3. Winding up of companies
Company is an artificial birth that’s why the death of
company is also un-natural. Company winds up by a
legal procedure. Company is registered in SECP and
also winds up from there.
Procedures:
1) Winding up by Court
2) Voluntary winding up
3) Subject to the supervision of Court

4. Winding up by Court
 If statuary meeting is not conducted in three to six
months after issuing shares then company is winds up by
rule.
 If company is not conducted annual general meeting in
consecutive two years then the license of company is
canceled by rule.
 If company does not start their practical work form the
next day to one year after getting commencement
certificate then the license of company is cancelled.

5.  Company must be registered within three months after
three years after receiving commencement certificate.
 If any company does not satisfy the minimum limit of
directors at any time then the company is wind up at that
time. i.e.,
In public limited company directors becomes 6 instead
of seven then company is winds up
In private limited company director becomes 1instead of
2 then also company winds up at that time.

6. Voluntary winding up
Two types of voluntary winding up:
 Members voluntary winding up
 Creditors voluntary winding up

7. Members voluntary winding up
 Call an extraordinary meeting by directors minimum
75% special resolution is pass in this meeting for
winding up of company.
 Preparation and submission of declaration report.
 Appointment of liquidators:
Directors appoints liquidators and liquidators sold out all
assets of company on market value.
 Final meeting and winding up of company:
Liquidators calls final meeting and present report to
directors and shareholders.

8. Creditors voluntary winding up
 Calls an extraordinary meeting:
Directors calls an extraordinary meeting on the request
of creditors. In this meeting pass special resolution upto
75% minimum subscription.
 Appointment of liquidators:
Directors appoints liquidators and liquidators sold out all
assets of company on market value.
 Final meeting and winding up of company
Liquidators calls final meeting and present report to
directors and shareholders.

9. Subject to supervision of court
 If shareholders have any doubt on directors then they
case in court. After that the process of winding up of
company under the supervision of court.

10. Thanks