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of <h1>Companies Must Object to Winding-Up Petitions Within 30 Days or Face Penalties; Directors to Submit Audited Accounts Promptly.</h1> When a winding-up petition is filed against a company by someone other than the company itself, the Tribunal may require the company to submit objections and a statement of affairs within 30 days. This period may be extended by another 30 days in special circumstances. If the company fails to comply, it forfeits the right to oppose the petition, and responsible directors or officers may face penalties, including imprisonment or fines. Directors must also submit audited accounts to the liquidator within 30 days of a winding-up order. Complaints regarding non-compliance can be filed with the Special Court by authorized parties.
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