Closing a company under the companies act 2013 is a process of liquidation, which is followed when the company has no more assets to pay off its liabilities. The procedure of company closure is governed by the Companies Act, of 2013.
Company closure is a procedure in which the company’s directors can appoint a voluntary liquidator to closing up the affairs of the company. The appointment of a voluntary liquidator does not necessarily mean that all or any part of the assets of the company will be sold at an ‘auction’.