DISSOLUTION OF A COMPANY. — SPCC STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceSPCCDISSOLUTION OF A COMPANY.1 Mark
Question
Write the meaning of voluntary dissolution by the creditors.
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Answer
When a company is insolvent and the directors are unable to make the declaration of solvealy, voluntary winding up is carried out by the creditors. This is called Creditors' Voluntary Winding up.
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