| Winding Up | Striking Off |
|---|---|
| When a company is wound up, a liquidator is appointed to be in charge of the winding up process and manage the affairs of the wound up company. The liquidator takes full control of the company and is responsible to collect and realize all assets of the company, settle all the creditors' claims and distribute the surplus asset (if any) to the company's shareholders according to their entitlements | The striking off process entitles the Registrar to exercise his power under Section 549 Companies Act 2016 (Section 308 Companies Act 1965) |
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