Company Winding Up Procedure
Here it is mandatory to explain the company winding up procedure in Pakistan. The legal process by which an incorporated company / registered company is brought to an end is called as winding up. Normal the term ‘Winding Up’ of a company is treated or explained as the process by which a company is closed. When any company is applied for winding up, means the management of the company is no more to run the operation of the company. When the process of winding up of a company starts, the assets of the company are disposed of, the debts of the company are paid off out of the assets sold.
We also call it ‘‘Liquidation’ of the company. Normally people use the word ‘Dissolution’, it is only used when partnership firm is come to an end or closing of business.
We also call it ‘‘Liquidation’ of the company. Normally people use the word ‘Dissolution’, it is only used when partnership firm is come to an end or closing of business.
Process of Winding Up of a Company:
- Court decision or order passed by the honorable court for winding up of company
- Voluntary winding up
If you are not running your company properly and intend to winding up or closure of business, it is your sole responsibility to apply as soon as possible to wind up the company.
Documents Required for Winding Up of Company:
- Board Resolution
- Company Winding Up Forms
- Appropriate Fee
- Financial Accounts & Letter from Chartered Accountant
Time Duration of Winding up:
- Company registration office will take around 3-4 weeks for Winding Up the Company.
Winding up of company Fee:
- Rs. 10,000/-is the official fee, it may be vary.
Want to Register For Company For Winding Up Procedure.
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