Dear Friends
Please explain me the points of difference between
"Winding Up" and "Dissolution"
Gopal Subedi
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Difference between Winding Up and Dissolution of Company
Replies (4)
1. Winding Up is first stage where assets/liabilities are realised/paid-off; Dissolution is final stage where company ceases to exist.
2. Winding up is carried on by liquidator appointed by company/court; Order for dissolution is given by court only.
3. Liquidator can represent company during winding up till dissolution; After dissolution liquidator don't represent co.
4. Creditors can prove their debts in winding up but not on dissolution
5. Winding up always don't lead to dissolution
What can winding up lead to other than dissolution?
Thnxx
If a company is wound up or dissolved can it be started again by some shorter procedure or anything?
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