Final Winding- up:

When the affairs of a company have been completely wound up or when the Court is of the opinion that the liquidator cannot proceed with the winding-up of the company for want of funds and assets or for any other reason whatsoever and it is just and reasonable in the circumstances of the case that an order of dissolution should be made, then the Court shall make an order that the company be dissolved from the date of the order and the company shall be dissolved accordingly [Section 481 (1)]. A copy of the order must be forwarded within 30 days from the date of the order by the liquidator to the Registrar who shall enter in his books a minute of the dissolution of the company [Section 481 (2)].

If the liquidator makes default in forwarding a copy as aforesaid, he shall be punishable with fine which may extend to five hundred rupees for every day during which the default continues. [Section 481(3)]