Winding up of Company
A Govt. company, means a company, in which 51% or more of, shares are held by a govt. company
Winding up procedure for a government company registered under the companies Act, 1956, is nearly similar to normal winding up procedure.
However, courts, take interest
of public into consideration, and priority is given to them, as a govt. company
is main function is to provide services to public .