Mention the number of methods for winding up of a company?

The correct answer is: D. 3

The three methods for winding up of a company are:

1. Voluntary winding up

A company may be wound up voluntarily by the company itself, its creditors or its members.

1. Compulsory winding up

A company may be wound up compulsorily by the court if:

• The company is unable to pay its debts;
• The court is satisfied that it is just and equitable that the company should be wound up;
• The company has resolved to be wound up; or

• The company has been dissolved.

• Just and equitable winding up

A company may be wound up by the court if the court is satisfied that it is just and equitable that the company should be wound up. This may be the case, for example, if there is a serious dispute between the members of the company or if the company is no longer able to carry on its business.

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