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of <h1>Commencement of company winding up now fixed at petition filing under IBC 2016, ending earlier voluntary distinctions</h1> The provision establishes that winding up of a company by the Tribunal is deemed to commence at the time the winding-up petition is presented. Following amendments made by the Insolvency and Bankruptcy Code, 2016, earlier distinctions between voluntary winding up and winding up by Tribunal have been removed. Previously, if a valid resolution for voluntary winding up was passed before the petition, commencement related back to that resolution, subject to Tribunal's power to intervene in cases of fraud or mistake. Now, commencement is uniformly fixed at petition presentation.
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