General Studies · Winding Up of Companies
Match List-I with List-II: List-I (Winding Up Concepts) A. Declaration of Solvency B. Creditors' Voluntary Winding Up C. Contributory's Petition D. Official Liquidator List-II (Statutory Definitions and Characteristics) I. Involves directors making a formal declaration stating the company's inability to pay its debts in full. II. Appointed by the National Company Law Tribunal (NCLT) to formally take charge of the compulsory winding-up process. III. A critical prerequisite requiring directors to formally swear that the business is financially solvent and capable of paying all debts within a specified period. IV. Filed by a person liable to contribute to the assets of the company to initiate compulsory winding up. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A-IV, B-II, C-III, D-I
- 2A-III, B-I, C-IV, D-II✓
- 3A-II, B-IV, C-I, D-III
- 4A-I, B-III, C-II, D-IV
Correct answer
A-III, B-I, C-IV, D-II
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