Companies (Winding Up) Rules (2006)

The Companies (Winding Up) Rules (2006) are legal guidelines in India that outline the process for closing down a company. When a company cannot continue its operations, these rules provide the necessary steps for winding up its affairs, which includes settling debts, distributing remaining assets, and formally disbanding the company. The rules aim to ensure fairness and transparency during the winding-up process, protecting the interests of creditors, shareholders, and employees. They cover various procedures, documentation requirements, and the roles of courts and officials involved in the winding-up process.