2. Points to be covered
• Meaning of winding up
• Modes of winding up
• Who can apply for winding up
• Procedure for winding up
• Consequences of winding up
3. • Winding up means the termination of the legal
existence of a company by stopping its
business, collecting its assets and distributing
the assets among creditors and shareholders, in
the manner laid down in the act.
ACCORDING TO COMPANIES ACT 1956
4. Three modes of winding up :-
(a)Compulsory winding up by the court
(b)Voluntary winding up by the member
themselves or by the creditors.
(c)Voluntary winding up under the
supervision of the court.
5. Takes place when court directs the company to wound up.
Following circumstances of wounding up by order of court—
(a)Special resolution of the company.
(b)Default
(c)Suspending the company
(d)Reduction of court
(e)Inability to pay debts
(f)The just and equitable clause— E.g.--loss, loss of substratum
of the company, deadlock in management,fradulent
object,misconduct & misappropriation
6. Voluntary winding up sec 484
• Means winding up by the member themselves
without the intervention of court.
• Following circumstances
8. How many planets in the solar system have
rings?
Jupiter, Saturn, Uranus, and Neptune all
have rings.
9. What is inertia?
Measurement of electrical resistance
A ratio between mass and velocity
Resistance to motion or change
The speed at which an object falls
All of the above
10. Match the device to what it measures:
Stop Watch Distance
Scale Temperature
Thermometer Elapsed Time
Speedometer Weight
Odometer Rate of Travel
