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Govt notifies rules for winding up of companies under Companies Act

Govt notifies rules for winding up of companies under Companies Act

Wednesday, January 29, 2020, 5:29 PM

In a move that will help lessen the burden on the NCLT, the government has notified the rules for winding up of companies under the companies law. The Corporate Affairs Ministry has notified the Companies (Winding-Up) Rules, 2020, which would be effective from April 1. Petitions for winding up of companies are subject to various conditions, including thresholds on turnover and paid-up capital.
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