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Matters about Member’s Voluntary Winding Up
At the last meeting, the accounts of the liquidator must be approved by the members. Such accounts must be filed by him with the registrar of Companies and the Official Liquidator attached to the Court having jurisdiction over the company.
The Registrar on receiving such accounts must register them. The Official Liquidator on receipt of the accounts and other relevant details must make a report to the Court if he is of the opinion that the affairs of the company have not been conducted in a manner prejudicial to the interest of its members or to public interest.
The company shall be deemed to be dissolved from the date of submission of such report. If the Official Liquidator makes a report that the affairs of the company have been conducted in a manner prejudicial to the interest of its members or to public interest, the Court may direct the Official Liquidator to make further investigation of the affairs of the Company. On receipt of the investigation report, the Court may make an order of dissolution or may make such order as it deems fit and proper ion the given circumstances.
The Registrar on receiving such accounts must register them. The Official Liquidator on receipt of the accounts and other relevant details must make a report to the Court if he is of the opinion that the affairs of the company have not been conducted in a manner prejudicial to the interest of its members or to public interest.
The company shall be deemed to be dissolved from the date of submission of such report. If the Official Liquidator makes a report that the affairs of the company have been conducted in a manner prejudicial to the interest of its members or to public interest, the Court may direct the Official Liquidator to make further investigation of the affairs of the Company. On receipt of the investigation report, the Court may make an order of dissolution or may make such order as it deems fit and proper ion the given circumstances.
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