winding up of companies according to companies ordinance 1984

PRESENTATION

Prepared ByMUHAMMAD MUNEEB AHSAN

REG#S4F13BBAM0029

Presentation Topic

Winding Up Company / Dissolution of Company

What is winding up of company?

winding up of company

When the operational and functional activities of the company comes to an end is called winding up of a company .

Modes Of winding up Company

A company can be winded up in two ways 1) Winding Up By court2) Voluntary winding Up

Winding Up by court

Winding Up by court

A company can be winded up by court When :-• Statuary meeting is not being held in the given

period .• statuary report is not submitted to the

registrar.• The management is not able to start business

after getting commencement of Business Certificate .

Winding Up by court

• When the Number of directors are reduced from the given limit .

• When company become insolvent and is not able to pay its debts .

• If company is carrying unlawful activates.• If the activities of company are against

national interest.

Voluntary Wind-up

Voluntary Windup

A company can be winded up in voluntary way when :-

• The Settled time period is expired.• The settled objectives are completed.• when Promoters and shareholders decide to

wind up the company or show their consent to wind up company it is also to be said as voluntary wind up process.

Procedure of Winding Up

Appointment of Liquidator

Appointment of Liquidator

A liquidator is appointed by shareholders or authorities .

Task of Liquidator

• A liquidator realizes the assets of company according to market price .

• He also realizes liabilities of company .• A liquidator manage the assets and pay the

liabilities of company .• Then liquidator distributes remaining value of

assets to the shareholders according to shares.

• After that the accounts of company are closed and company is winded up.