Declaration of solvency ‑ Registrars directed to check up resolutions for voluntary winding up as soon as they are filed and give advice in case resolution is found to be defective - Companies Law - Letter : No. 42 (226)‑CL‑II/60,

Circular Letter : No. 42 (226) ‑ CL ‑ II/60, dated 21 ‑ 6 ‑ 1960. Subject:- Declaration of solvency ‑ Registrars directed to check up resolutions for voluntary winding up as soon as they are filed and give advice in case resolution is found to be defective It has been noticed that on the filing with the Registrar of Companies of a resolution for the voluntary winding up of a company, the same is not immediately checked up with a view to finding out whether such resolution had been passed after complying with the requirements of the law or not. This practice is apt to give rise to complications in future, because, if the liquidation is allowed to proceed and if, on scrutiny of the resolution for voluntary winding up, it is subsequently found that the resolution had been void, it may be difficult to restore the status quo ante. In the circumstances, Registrars are directed to. (i) check up resolutions for voluntary winding up, as soon as they are filed with them, and (ii) give necessary advice to the company as to what steps should be taken by it to regularise the matter, in case the resolution is found to be defective and/or void.