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Winding up of Company

When affairs of the company are fully wound up

The liquidator shall take the following steps, when affairs of the company are fully wound up: (497)

  1. Call a general meeting of the members of the company, a lay before it, complete picture of accounts, wining up procedure and how the properties of company are disposed of.
  2. The meeting shall be called by advertisement, specifying the time, place and object of the meeting.
  3. The liquidator shall send to, the Registrar and official Liquidator copy of account, within one week of the meeting.
  4. If from the report, official liquidator comes to the conclusion, that affairs of the company are not being carried in manner prejudicial to the interest of it's members, or public, then the company shall be deemed to be dissolved from the date of report to the court.
  5. However, if official liquidator comes to a finding, that affair have been carried in a manner prejudicial to interest of member or public, then court may direct the liquidator to investigate furthers.

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