Publication of resolution to wind up voluntarily, Commencement of voluntary winding up and Effect of voluntary winding up are defined under Section 307, 308 and 309 of Indian Companies Act 2013. Provisions under these Sections are:
307 of Indian Companies Act 2013
"Publication of resolution to wind up voluntarily"
(1) Where a company has passed a resolution for voluntary winding up and a resolution under sub-section (3) of section 306 is passed, it shall within fourteen days of the passing of the resolution give notice of the resolution by advertisement in the Official Gazette and also in a newspaper which is in circulation in the district where the registered office or the principal office of the company is situate.
(2) If a company contravenes the provisions of sub-section (1), the company and every officer of the company who is in default shall be punishable with fine which may extend to five thousand rupees for every day during which such default continues.
Section 308 of Indian Companies Act 2013 "Commencement of voluntary winding up"
A voluntary winding up shall be deemed to commence on the date of passing of the resolution for voluntary winding up under section 304.
Section 309 of Indian Companies Act 2013 "Effect of voluntary winding up"
In the case of a voluntary winding up, the company shall from the commencement of the winding up cease to carry on its business except as far as required for the beneficial winding up of its business:
Provided that the corporate state and corporate powers of the company shall continue until it is dissolved.
What is the responsibility of Company Liquidator to submit report on progress of winding up What is Report of Company Liquidator to Tribunal for examination of persons Section 316 and 317 of Indian Companies Act 2013
What is Power of Company Liquidator to accept shares, etc., as consideration for sale of property of company What is distribution of property of company Section 319 and 320 of Indian Companies Act 2013