Companies winding up procedure: petitions, liquidator appointment, asset realisation, creditor proofs, accounting and dissolution timelines. The Rules provide a detailed procedural regime for the winding up of companies under the Companies Act, 2013: prescribed petition and statement-of-affairs forms and verification; notice, advertisement and service duties; appointment, duties, disclosures and limitations for provisional and Company Liquidators; creditor and contributory meeting, list-settlement and proof-of-debt procedures; Tribunal-sanctioned asset realisation and dividend distribution processes; mandatory accounting, investment, banking, audit and filing obligations; disclaimer, vesting and dissolution processes; and summary liquidation modifications for the Official Liquidator.
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Companies winding up procedure: petitions, liquidator appointment, asset realisation, creditor proofs, accounting and dissolution timelines.
The Rules provide a detailed procedural regime for the winding up of companies under the Companies Act, 2013: prescribed petition and statement-of-affairs forms and verification; notice, advertisement and service duties; appointment, duties, disclosures and limitations for provisional and Company Liquidators; creditor and contributory meeting, list-settlement and proof-of-debt procedures; Tribunal-sanctioned asset realisation and dividend distribution processes; mandatory accounting, investment, banking, audit and filing obligations; disclaimer, vesting and dissolution processes; and summary liquidation modifications for the Official Liquidator.
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