BOARD MEETING. Convene a Board Meeting as per Sec 286. With in 5 weeks immediately preceding the date of resolution for winding up. Make sure that the company can pay its debts in full within a period of 3 years if put into liquidation.
1. Latest Audited Balance Sheet and P & L Account before the date of Declaration.
2. A Statement of the company’s assets and Liabilities as at that date.
3. A copy of the report of Auditors of the company on the above 2 documents.
1. Imprisonment upto 6 months.
2. Fine of Rs. 50000/-, or
3. With Both.