Voluntary ‑ Winding up ‑ Declaration of solvency ‑ Effect of non‑filing of declaration of solvency on voluntary winding up - Companies Law - Letter No. 42(139)‑CL‑II/59,

Circular : Letter No. 42(139) ‑ CL ‑ II/59, dated 22 ‑ 2 ‑ 1960. Subjects:- Voluntary ‑ Winding up ‑ Declaration of solvency ‑ Effect of non ‑ filing of declaration of solvency on voluntary winding up A doubt has been raised whether the instructions contained in this Department s Circular No. 42(139)‑CL‑II‑59, dated 13‑11‑1959 [printed as Clarification 2] will also apply to cases where the declaration of solvency has been filed but the provisions of section 488(2) have not been complied with. After a careful consideration of the matter, it has been decided that since such a declaration of solvency has no effect, such cases should also be dealt with in the manner indicated in this Department s Circular Letter No. 42(139)‑CL‑III/59, dated 13‑11‑1959.