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What does Appointing a Liquidator Mean?

The liquidator collects the assets of the company (including uncalled capital) and pays the creditors in order of priority. The appointed liquidator of the company distributes any surplus funds to the shareholders for the company's final dissolution.

Documents required for applying:

  • A copy of the board passed resolution of voluntary winding up
  • Audited financial statements
  • Record of business operations for the previous two years
  • Report of valuation of assets

What is the process of registration?

  • Submission of application to appoint a provisional liquidator
  • Appointing a provisional liquidator
  • Appointment of a new Liquidator (official)
  • Advertisement of the order of winding up
  • Order of winding up to be communicated to the Registrar of Companies and Official Liquidator
  • Custody of the Company's property
  • Sale of Assets of the company in winding up

Frequently Asked Questions

  • In case a Provisional Liquidator is appointed by the court, then on the passing of the winding-up order, the Provisional Liquidator becomes the Official Liquidator.