Voluntary Winding Up (Members' Voluntary Winding Up)
Solvent companies wishing to voluntarily wind up. Board first passes a resolution and makes a Declaration of Solvency, followed by a Special Resolution (or Ordinary Resolution if wind-up is due to expiry of period / events) by members, appointment of liquidator, and ROC filings.
Even closing a company has a right way to do it. Section 59 of the Insolvency and Bankruptcy Code, 2016 replaced the old Companies Act process entirely. Concretely: members must pass a Special Resolution to liquidate voluntarily and appoint the liquidator. No templates, no guesswork — Fi CTC Generator drafts this correctly in about 3 minutes.
Board must make a Declaration of Solvency before the General Meeting. Special Resolution by members is then required to wind up the company. Liquidator is appointed by members. The liquidator files a report with the NCLT on completion. This is a court-supervised / regulatory process.
Section 59, IBC 2016; Section 270-365, Companies Act 2013 (as applicable)
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