Practical Legal Guidance
Winding Up
The legal process of bringing a company's existence to an end and distributing its assets.
Detailed Meaning
Winding up (now largely conducted under the insolvency framework for companies unable to pay their debts) is the process by which a company's affairs are wound up, its assets realized, its liabilities discharged, and any surplus distributed to its members, culminating in its dissolution.
Authoritative Sources & Provenance
Relevant Legislation
- The Companies Act, 2013
Related Concepts
General legal information for reference only, reviewed for accuracy but not a substitute for advice from a qualified advocate on your specific facts.