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Advertisement for liquidation of a private company

Gayatri Ramasubramani (Articled assisstant) (93 Points)

18 January 2014

Dear members of CA Club India,

1. Please can anyone give me a sample of an advertisement of a private company under voluntary liquidation? Please can you highlight the mandatory contents of such an advertisement ?

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sachin pathak (Student CS) (339 Points)
Replied 20 January 2014

The Rules prescribed in PART-IV has a title as ‘RULES APPLICABLE TO EVERY MODE OF WINDING UP’

307. (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.

The Advertisement in Form No. 64 in one issue of a daily newspaper in the English language and one issue of a daily newspaper in the principal regional language circulating in the State or Union Territory concerned to the creditors of the company to prove their debts or claims and to establish any title they may have to priority under section 327, or to be excluded from the benefit of any distribution made before such debts or claims are proved, or, as the case may be, from objecting to such distribution.

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