The sole director or majority of directors have passed a declaration that the company is solvent
Conversion of members’ voluntary winding up to creditors’ voluntary winding up
Creditors meeting
Creditors winding up
Members winding up
A) Voluntary winding up
WINDING UP B) compulsory winding up circumstances Who may petition The company has by special resolution resolved that it be wound up by the Court 1. 2. 3. 4. 5. 6. 7. 8.
The company itself A creditor A contributory The liquidator The Minister Bank Negara Malaysia The ROC The Malaysia Deposit Insurance Corporation
(b) The company has defaulted in lodging the statutory report or in holding the statutory meeting (c) The company does not commence business within a year from its incorporation or suspends its business for a whole year (d) No member (e) The company is unable to pay its debt (f) Expiry of term (g) Just and equitable to win up the company