Question 22 of 26
Q.Explain the circumstances for voluntary liquidation.
Gujarat GsebGujarat Board (GSEB) HSC Commerce Board 2025Subjective· 3mImportance★★★★★
85% · 22/26 Questions
You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.
Start your 14-day free trial to unlock the full solution →Circumstances for voluntary liquidation: expiry of the fixed duration, occurrence of the dissolution event named in the Articles (ordinary resolution), or the members' own decision to wind up by special resolution.
Voluntary winding up (liquidation) is a winding up brought about by the company itself, without the intervention of the Tribunal, in the following circumstances:
- Expiry of fixed period — if the Articles of Association fixed a period for the duration of the company and that period has expired, the members may resolve (by ordinary resolution) to wind it up.
- Occurrence of a specified event — if the Articles provide that the company shall be dissolved on the happening of a particular event, and that event occurs, the members may pass an ordinary resolution to wind up. …
Unlock everything free for 14 days
- Full step-by-step solutions
- Concept-first explanations
- Methods, shortcuts & mistakes
- PYQ mapping + timed mock tests
Full access for 14 days. No credit card required.