Winding up of a company requires shareholder and creditor resolutions, appointment of an insolvency professional, and statutory filings to liquidate.
Voluntary winding up requires a shareholder resolution, a Statement of Affairs, publication and registry notice, appointment of an insolvency professional to verify creditors, realize assets and prepare a final report, and submission of that report to the adjudicating authority and registrar for dissolution; compulsory winding up is initiated by petition on statutory grounds, with court-appointed liquidation, investigation of books, creditor verification, asset realization, and distribution before striking the company's name from the register. (AI Summary)