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Company Winding Up Procedure in Pakistan

Company Winding Up Procedure in Pakistan

Here it is mandatory to explain the company winding up procedure in Pakistan. the legal process by which the an incorporated company / registered company is brought to an end is called as winding up. Normal the term ‘winding up’ of a company is treated or explained as the process by which a company is closed. When any company is applied for winding up, means the management of the company is no more to run the operation of the company.  When the process of winding up of a company starts, the assets of the company are disposed of, the debts of the company are paid off out of the assets sold. We also called it ‘‘liquidation’ of the company’. normally people use the word ‘dissolution’ it is only used when partnership firm is come to an end or closing of business. Read More »