Winding up of a company refers to the legal procedure for ending its life. The procedure is to sell off or dispose of the company’s assets, apply the proceeds towards settling debts and liabilities, and ultimately distribute any balance surplus to shareholders. After completion of the process, the business ceases to exist and its name is removed from the register of companies, i.e., i... https://www.kanakkupillai.com/closure-of-private-limited-company