Winding up is drafted as amended by the Code: a company unable to pay its debts is now dealt with under the IBC, not by a creditor’s winding-up petition. Thresholds and time limits in the IBC have been revised by notification and amendment — check the current figures.
The sections below are the ones the LL.B. papers examine on this Act, with the unit that covers each and the cases decided on it. The official text is on India Code ↗.