{"id":30184,"date":"2025-10-14T18:38:12","date_gmt":"2025-10-14T13:08:12","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=30184"},"modified":"2025-12-30T19:44:32","modified_gmt":"2025-12-30T14:14:32","slug":"procedure-of-members-voluntary-winding-up-under-co-act-1956","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/","title":{"rendered":"Procedure of Member\u2019s Voluntary Winding Up under Co Act 1956"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e74daa1836b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e74daa1836b\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Procedure_of_Members_Voluntary_Winding_Up_under_the_Companies_Act_1956\" title=\"Procedure of Member\u2019s Voluntary Winding Up under the Companies Act, 1956\">Procedure of Member\u2019s Voluntary Winding Up under the Companies Act, 1956<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Pre-Requisites_for_Members_Voluntary_Winding_Up\" title=\"Pre-Requisites for Members\u2019 Voluntary Winding Up\">Pre-Requisites for Members\u2019 Voluntary Winding Up<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-by-Step_Procedure_for_Members_Voluntary_Winding_Up\" title=\"Step-by-Step Procedure for\u00a0Members\u2019 Voluntary Winding Up\">Step-by-Step Procedure for\u00a0Members\u2019 Voluntary Winding Up<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-1_Convene_a_Board_Meeting\" title=\"Step-1: Convene a Board Meeting\u00a0\">Step-1: Convene a Board Meeting\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-2_Declaration_of_Solvency\" title=\"Step-2: Declaration of Solvency\">Step-2: Declaration of Solvency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-3_Convene_a_General_Meeting_of_Members\" title=\"Step-3: Convene a General Meeting of Members\">Step-3: Convene a General Meeting of Members<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-4_Filing_and_Publication_of_Resolution\" title=\"Step-4: Filing and Publication of Resolution\">Step-4: Filing and Publication of Resolution<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-5_Appointment_of_Liquidator\" title=\"Step-5: Appointment of Liquidator\">Step-5: Appointment of Liquidator<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-6_Registration_of_Appointment_by_the_Registrar\" title=\"Step-6: Registration of Appointment by the Registrar\">Step-6: Registration of Appointment by the Registrar<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-7_Conduct_of_Liquidation_by_the_Liquidator\" title=\"Step-7: Conduct of Liquidation by the Liquidator\">Step-7: Conduct of Liquidation by the Liquidator<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-8_Annual_General_Meeting_During_Liquidation\" title=\"Step-8: Annual General Meeting During Liquidation\">Step-8: Annual General Meeting During Liquidation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-9_Completion_of_Winding_Up_and_Final_Meeting\" title=\"Step-9: Completion of Winding Up and Final Meeting\">Step-9: Completion of Winding Up and Final Meeting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Step-10_Filing_of_Final_Returns_and_Dissolution\" title=\"Step-10: Filing of Final Returns and Dissolution\">Step-10: Filing of Final Returns and Dissolution<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Summary_of_Statutory_Forms\" title=\"Summary of Statutory Forms\">Summary of Statutory Forms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/carajput.com\/blog\/procedure-of-members-voluntary-winding-up-under-co-act-1956\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"156\" data-end=\"234\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-22729\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2019\/09\/Procedure-Foreign-Company-in-an-Indian-Company.gif\" alt=\"Procedure Foreign Company in an Indian Company\" width=\"1105\" height=\"453\" \/><\/h2>\n<h2 data-start=\"156\" data-end=\"234\"><span class=\"ez-toc-section\" id=\"Procedure_of_Members_Voluntary_Winding_Up_under_the_Companies_Act_1956\"><\/span><span style=\"color: #000080;\"><strong data-start=\"158\" data-end=\"234\">Procedure of Member\u2019s Voluntary Winding Up under the Companies Act, 1956<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"265\" data-end=\"493\">A Members\u2019 Voluntary Winding Up is a mode of voluntary liquidation initiated by the members (shareholders) of a solvent company \u2014 that is, a company capable of paying its debts in full within a specified period. This procedure is governed by Sections 484 to 498 of the Companies Act, 1956 and the Companies (Court) Rules, 1959. The process begins when the company\u2019s members pass a special resolution for winding up after a declaration of solvency is made by its directors.<\/p>\n<h2 data-start=\"784\" data-end=\"842\"><span class=\"ez-toc-section\" id=\"Pre-Requisites_for_Members_Voluntary_Winding_Up\"><\/span><span style=\"color: #000080;\"><strong data-start=\"787\" data-end=\"842\">Pre-Requisites for Members\u2019 Voluntary Winding Up<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"844\" data-end=\"929\">Before initiating the winding up process, the following conditions must be satisfied.\u00a0 The company must be solvent \u2014 i.e., able to pay its debts in full within a period not exceeding three years from the commencement of winding up. The Board of Directors must make a Declaration of Solvency in the prescribed form. The Auditor\u2019s Report and Statement of Assets and Liabilities must support the declaration.<\/p>\n<h2 data-start=\"1293\" data-end=\"1325\"><span class=\"ez-toc-section\" id=\"Step-by-Step_Procedure_for_Members_Voluntary_Winding_Up\"><\/span><span style=\"color: #000080;\"><strong data-start=\"1296\" data-end=\"1325\">Step-by-Step Procedure for\u00a0<\/strong><strong data-start=\"787\" data-end=\"842\">Members\u2019 Voluntary Winding Up<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 data-start=\"1327\" data-end=\"1366\"><span class=\"ez-toc-section\" id=\"Step-1_Convene_a_Board_Meeting\"><\/span><span style=\"color: #000080;\"><strong data-start=\"1331\" data-end=\"1366\">Step-1: Convene a Board Meeting\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"1367\" data-end=\"1714\">\n<li data-start=\"1367\" data-end=\"1600\">\n<p data-start=\"1369\" data-end=\"1413\">Call a meeting of the Board of Directors to Consider the proposal for winding up. Approve the Declaration of Solvency. &amp; Fix the date, time, and venue of the General Meeting to pass the resolution for winding up.\u00a0The majority of directors must sign the declaration after making a full inquiry into the company\u2019s affairs.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"1721\" data-end=\"1760\"><span class=\"ez-toc-section\" id=\"Step-2_Declaration_of_Solvency\"><\/span><span style=\"color: #000080;\"><strong data-start=\"1725\" data-end=\"1760\">Step-2: Declaration of Solvency<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"1761\" data-end=\"2503\">\n<li data-start=\"1761\" data-end=\"1865\">\n<p data-start=\"1763\" data-end=\"1865\">The Declaration of Solvency must be made in Form No. 149 as per Section 488(1) of the Act. It must include a statement that:<\/p>\n<ul data-start=\"1904\" data-end=\"2069\">\n<li data-start=\"1904\" data-end=\"1973\">\n<p data-start=\"1906\" data-end=\"1973\">The company has made a full inquiry into its financial affairs, and<\/p>\n<\/li>\n<li data-start=\"1976\" data-end=\"2069\">\n<p data-start=\"1978\" data-end=\"2069\">It has formed the opinion that it will be able to pay its debts in full within three years.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li data-start=\"2070\" data-end=\"2149\">\n<p data-start=\"2072\" data-end=\"2149\">The declaration must be verified by an affidavit signed by the directors. It must be accompanied by:<\/p>\n<ol data-start=\"2181\" data-end=\"2306\">\n<li data-start=\"2181\" data-end=\"2231\">\n<p data-start=\"2184\" data-end=\"2231\">Auditor\u2019s Report on the company\u2019s accounts.<\/p>\n<\/li>\n<li data-start=\"2234\" data-end=\"2306\">\n<p data-start=\"2237\" data-end=\"2306\">Statement of Assets and Liabilities, duly attested by a director.<\/p>\n<\/li>\n<\/ol>\n<\/li>\n<li data-start=\"2307\" data-end=\"2503\">\n<p data-start=\"2309\" data-end=\"2503\">The declaration must be made within five weeks before passing the resolution for winding up and filed with the Registrar of Companies (ROC) before the resolution is passed.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"2510\" data-end=\"2562\"><span class=\"ez-toc-section\" id=\"Step-3_Convene_a_General_Meeting_of_Members\"><\/span><span style=\"color: #000080;\"><strong data-start=\"2514\" data-end=\"2562\">Step-3: Convene a General Meeting of Members<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"2563\" data-end=\"2937\">\n<li data-start=\"2563\" data-end=\"2633\">\n<p data-start=\"2565\" data-end=\"2633\">Issue clear notice to all members calling a General Meeting. In the meeting Pass a Special Resolution for the voluntary winding up of the company under Section 484(1)(b). Appoint a Liquidator to conduct the winding-up process and determine their remuneration.\u00a0Fix the time within which the company\u2019s debts are to be paid (if applicable).<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"2944\" data-end=\"2996\"><span class=\"ez-toc-section\" id=\"Step-4_Filing_and_Publication_of_Resolution\"><\/span><span style=\"color: #000080;\"><strong data-start=\"2948\" data-end=\"2996\">Step-4: Filing and Publication of Resolution<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"2997\" data-end=\"3356\">\n<li data-start=\"2997\" data-end=\"3356\">\n<p data-start=\"2999\" data-end=\"3016\">The company must File a certified copy of the special resolution with the Registrar within 30 days of passing it (Section 192). Publish the resolution in the Official Gazette and in one newspaper circulating in the district where the registered office of the company is located, within 14 days of passing the resolution.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"3363\" data-end=\"3404\"><span class=\"ez-toc-section\" id=\"Step-5_Appointment_of_Liquidator\"><\/span><span style=\"color: #000080;\"><strong data-start=\"3367\" data-end=\"3404\">Step-5: Appointment of Liquidator<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"3405\" data-end=\"3795\">\n<li data-start=\"3405\" data-end=\"3508\">\n<p data-start=\"3407\" data-end=\"3508\">The members appoint the Liquidator in the same meeting where the winding-up resolution is passed. The appointment must be Notified to the Registrar in Form No. 151, and\u00a0Published in the Official Gazette and one local newspaper.\u00a0Once appointed, all powers of the Board of Directors cease, except where the Liquidator or the members authorize otherwise.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"3802\" data-end=\"3862\"><span class=\"ez-toc-section\" id=\"Step-6_Registration_of_Appointment_by_the_Registrar\"><\/span><span style=\"color: #000080;\"><strong data-start=\"3806\" data-end=\"3862\">Step-6: Registration of Appointment by the Registrar<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"3863\" data-end=\"3982\">\n<li data-start=\"3863\" data-end=\"3982\">\n<p data-start=\"3865\" data-end=\"3982\">Upon receiving Form No. 151, the Registrar registers the appointment and issues confirmation in Form No. 152.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"3989\" data-end=\"4045\"><span class=\"ez-toc-section\" id=\"Step-7_Conduct_of_Liquidation_by_the_Liquidator\"><\/span><span style=\"color: #000080;\"><strong data-start=\"3993\" data-end=\"4045\">Step-7: Conduct of Liquidation by the Liquidator<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"4046\" data-end=\"4308\">\n<li data-start=\"4046\" data-end=\"4173\">\n<p data-start=\"4048\" data-end=\"4080\">The Liquidator takes control of All company assets and records. Realization of assets and settlement of liabilities.\u00a0The Liquidator must prepare statements of account, maintain records, and distribute any surplus to members after debts are paid.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"4315\" data-end=\"4372\"><span class=\"ez-toc-section\" id=\"Step-8_Annual_General_Meeting_During_Liquidation\"><\/span><span style=\"color: #000080;\"><strong data-start=\"4319\" data-end=\"4372\">Step-8: Annual General Meeting During Liquidation<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"4373\" data-end=\"4717\">\n<li data-start=\"4373\" data-end=\"4717\">\n<p data-start=\"4375\" data-end=\"4426\">If the winding up continues for more than one year The Liquidator must convene a General Meeting of members at the end of each year. He must present an account of his acts and dealings and the position of winding up. File a statement of accounts in Form No. 153 with the Registrar and the Official Liquidator.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"4724\" data-end=\"4782\"><span class=\"ez-toc-section\" id=\"Step-9_Completion_of_Winding_Up_and_Final_Meeting\"><\/span><span style=\"color: #000080;\"><strong data-start=\"4728\" data-end=\"4782\">Step-9: Completion of Winding Up and Final Meeting<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"4783\" data-end=\"5223\">\n<li data-start=\"4783\" data-end=\"5223\">\n<p data-start=\"4785\" data-end=\"4852\">When the company\u2019s affairs are fully wound up, the Liquidator must\u00a0 Prepare Final Accounts showing how the winding up has been conducted and the property disposed of Call a Final General Meeting of members. Publish notice of the final meeting in the Official Gazette and one local newspaper at least 7 days before the meeting, using Form No. 155.\u00a0 Present the final accounts at the meeting.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"5230\" data-end=\"5286\"><span class=\"ez-toc-section\" id=\"Step-10_Filing_of_Final_Returns_and_Dissolution\"><\/span><span style=\"color: #000080;\"><strong data-start=\"5234\" data-end=\"5286\">Step-10: Filing of Final Returns and Dissolution<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"5287\" data-end=\"5655\">\n<li data-start=\"5287\" data-end=\"5515\">\n<p data-start=\"5289\" data-end=\"5329\">Within one week after the final meeting The Liquidator must send to the Registrar and the Official Liquidator A copy of the accounts, and\u00a0A return of the holding of the meeting, in Form No. 156.\u00a0The Registrar, on receiving the return, registers it and the company is deemed dissolved from the date of registration of the return.<\/p>\n<\/li>\n<\/ul>\n<h2 data-start=\"5662\" data-end=\"5698\"><span class=\"ez-toc-section\" id=\"Summary_of_Statutory_Forms\"><\/span><span style=\"color: #000080;\"><strong data-start=\"5665\" data-end=\"5698\">Summary of Statutory Forms<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"_tableContainer_1rjym_1\">\n<div class=\"group _tableWrapper_1rjym_13 flex w-fit flex-col-reverse\" tabindex=\"-1\">\n<table class=\"w-fit min-w-(--thread-content-width)\" style=\"height: 295px;\" width=\"1094\" data-start=\"5700\" data-end=\"6176\">\n<thead data-start=\"5700\" data-end=\"5748\">\n<tr data-start=\"5700\" data-end=\"5748\">\n<th data-start=\"5700\" data-end=\"5715\" data-col-size=\"sm\"><strong data-start=\"5702\" data-end=\"5714\">Form No.<\/strong><\/th>\n<th data-start=\"5715\" data-end=\"5733\" data-col-size=\"md\"><strong data-start=\"5717\" data-end=\"5732\">Particulars<\/strong><\/th>\n<th data-start=\"5733\" data-end=\"5748\" data-col-size=\"sm\"><strong data-start=\"5735\" data-end=\"5746\">Section<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody data-start=\"5801\" data-end=\"6176\">\n<tr data-start=\"5801\" data-end=\"5855\">\n<td data-start=\"5801\" data-end=\"5811\" data-col-size=\"sm\"><strong data-start=\"5803\" data-end=\"5810\">149<\/strong><\/td>\n<td data-start=\"5811\" data-end=\"5837\" data-col-size=\"md\">Declaration of Solvency<\/td>\n<td data-col-size=\"sm\" data-start=\"5837\" data-end=\"5855\">Section 488(1)<\/td>\n<\/tr>\n<tr data-start=\"5856\" data-end=\"5919\">\n<td data-start=\"5856\" data-end=\"5866\" data-col-size=\"sm\"><strong data-start=\"5858\" data-end=\"5865\">151<\/strong><\/td>\n<td data-start=\"5866\" data-end=\"5904\" data-col-size=\"md\">Notice of Appointment of Liquidator<\/td>\n<td data-col-size=\"sm\" data-start=\"5904\" data-end=\"5919\">Section 493<\/td>\n<\/tr>\n<tr data-start=\"5920\" data-end=\"5986\">\n<td data-start=\"5920\" data-end=\"5930\" data-col-size=\"sm\"><strong data-start=\"5922\" data-end=\"5929\">152<\/strong><\/td>\n<td data-start=\"5930\" data-end=\"5971\" data-col-size=\"md\">Registrar\u2019s Registration of Liquidator<\/td>\n<td data-col-size=\"sm\" data-start=\"5971\" data-end=\"5986\">Section 493<\/td>\n<\/tr>\n<tr data-start=\"5987\" data-end=\"6057\">\n<td data-start=\"5987\" data-end=\"5997\" data-col-size=\"sm\"><strong data-start=\"5989\" data-end=\"5996\">153<\/strong><\/td>\n<td data-start=\"5997\" data-end=\"6042\" data-col-size=\"md\">Annual Statement of Accounts by Liquidator<\/td>\n<td data-start=\"6042\" data-end=\"6057\" data-col-size=\"sm\">Section 551<\/td>\n<\/tr>\n<tr data-start=\"6058\" data-end=\"6109\">\n<td data-start=\"6058\" data-end=\"6068\" data-col-size=\"sm\"><strong data-start=\"6060\" data-end=\"6067\">155<\/strong><\/td>\n<td data-start=\"6068\" data-end=\"6094\" data-col-size=\"md\">Notice of Final Meeting<\/td>\n<td data-col-size=\"sm\" data-start=\"6094\" data-end=\"6109\">Section 509<\/td>\n<\/tr>\n<tr data-start=\"6110\" data-end=\"6176\">\n<td data-start=\"6110\" data-end=\"6120\" data-col-size=\"sm\"><strong data-start=\"6112\" data-end=\"6119\">156<\/strong><\/td>\n<td data-start=\"6120\" data-end=\"6158\" data-col-size=\"md\">Filing of Final Accounts and Return<\/td>\n<td data-col-size=\"sm\" data-start=\"6158\" data-end=\"6176\">Section 509(3)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div tabindex=\"-1\"><\/div>\n<div class=\"group _tableWrapper_1rjym_13 flex w-fit flex-col-reverse\" tabindex=\"-1\">Key Legal Provisions<\/div>\n<\/div>\n<ul data-start=\"6215\" data-end=\"6579\">\n<li data-start=\"6215\" data-end=\"6298\">\n<p data-start=\"6217\" data-end=\"6298\">Section 484 \u2013 Circumstances in which a company may be wound up voluntarily.<\/p>\n<\/li>\n<li data-start=\"6299\" data-end=\"6386\">\n<p data-start=\"6301\" data-end=\"6386\">Under Section 488 \u2013 Declaration of solvency in case of members\u2019 voluntary winding up.<\/p>\n<\/li>\n<li data-start=\"6387\" data-end=\"6470\">\n<p data-start=\"6389\" data-end=\"6470\">Section 491 \u2013 Appointment of company liquidator and fixing of remuneration.<\/p>\n<\/li>\n<li data-start=\"6471\" data-end=\"6523\">\n<p data-start=\"6473\" data-end=\"6523\">Under Section 509 \u2013 Final meeting and dissolution.<\/p>\n<\/li>\n<li data-start=\"6524\" data-end=\"6579\">\n<p data-start=\"6526\" data-end=\"6579\">Section 551 \u2013 Annual statement by the liquidator.<\/p>\n<\/li>\n<\/ul>\n<h2 data-start=\"6586\" data-end=\"6606\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><span style=\"color: #000080;\"><strong data-start=\"6589\" data-end=\"6606\">Conclusion<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"6608\" data-end=\"6766\">A Members\u2019 Voluntary Winding Up is a structured legal process ensuring an orderly closure of a solvent company. It provides a transparent mechanism for Settling all liabilities, Realizing assets, and Distributing surplus to members under the supervision of a Liquidator and Registrar. Proper compliance with statutory filings, timelines, and publication requirements under the Companies Act, 1956 is essential to ensure the winding-up process is legally valid and binding. following are\u00a0Summary of Procedure for\u00a0<span style=\"color: #000080;\">Members\u2019 Voluntary Winding Up\u00a0<\/span><span style=\"color: #000080;\"> the Companies Act, 1956.\u00a0<\/span><\/p>\n<ul>\n<li>Board Meeting: Convene to make a declaration of solvency by the majority of directors.<\/li>\n<li>Declaration of Solvency: Must be in Form No. 149 and comply with Section 488(1).<\/li>\n<li>Timing: Declaration must be made within 5 weeks before passing the resolution and filed with the Registrar.<\/li>\n<li>Supporting Documents: Include auditor\u2019s report and statement of assets &amp; liabilities.<\/li>\n<li>Notice Period: Provide clear notice before passing the resolution.<\/li>\n<li>Special Resolution: Pass under Section 484.<\/li>\n<li>Publication: Advertise the resolution in the Official Gazette and a local newspaper within 14 days.<\/li>\n<li>Registrar Filing: Submit the resolution to the Registrar.<\/li>\n<li>Liquidator Appointment: Notify and publish appointment; file Form No. 151.<\/li>\n<li>Registrar Registration: Publication and registration using Form No. 152.<\/li>\n<li>Annual Meetings: Liquidator must call general meetings annually unless final meeting occurs earlier.<\/li>\n<li>Statement Filing: If winding up exceeds one year, file annual statements using Form No. 153.<\/li>\n<li>Final Meeting Notice: Publish notice using Form No. 155 at least 7 days before the meeting.<\/li>\n<li>Final Accounts Filing: Submit final accounts using Form No. 156.<\/li>\n<\/ul>\n<p>You may also review:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.caindelhiindia.com\/service\/secretarial-audit-in-india\" data-cke-saved-href=\"https:\/\/www.caindelhiindia.com\/service\/secretarial-audit-in-india\">Secretarial Audit in India<\/a><\/li>\n<li><a href=\"https:\/\/www.caindelhiindia.com\/service\/corporate-tax-advisory-services\" data-cke-saved-href=\"https:\/\/www.caindelhiindia.com\/service\/corporate-tax-advisory-services\">Corporate Tax Advisory Services<\/a><\/li>\n<li><strong><em><a href=\"https:\/\/carajput.com\/services-secretarial-retainrship.php\" data-cke-saved-href=\"https:\/\/carajput.com\/services-secretarial-retainrship.php\">company secretarial Retainership service<\/a>\u00a0in India<\/em>.<\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Procedure of Member\u2019s Voluntary Winding Up under the Companies Act, 1956 A Members\u2019 Voluntary Winding Up is a mode of voluntary liquidation initiated by the members (shareholders) of a solvent company \u2014 that is, a company capable of paying its debts in full within a specified period. This procedure is governed by Sections 484 to &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8788],"tags":[10344],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/30184"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=30184"}],"version-history":[{"count":3,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/30184\/revisions"}],"predecessor-version":[{"id":30186,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/30184\/revisions\/30186"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=30184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=30184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=30184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}