Companies Act - Winding Up Petitions - MCA Instructions
IT has been noticed that winding up petitions are filed by creditors, stake holders and management before High courts without providing full information. This leads to waste of valuable time of the Court and also delays completion of winding up process as well. In order to speed up the winding up process and to introduce best international practices the winding up process, MCA has issued instructions to the Official Liquidators.
MOC General Circular No. , Dated: July 26, 2011