Difference between Winding Up and Dissolution of Company



 Dear Friends

Please explain me the points of difference between 

"Winding Up"  and  "Dissolution"

Gopal Subedi

 

 
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LCS, ACA

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


Total likes : 2 times

 
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What can winding up lead to other than dissolution?

 
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Thnxx
 
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