A company may be wound-up and dissolved either by a summary winding-up if the company is solvent, a winding up by the Court if the Court is of the opinion that it is just and equitable that the company should be wound up, or by a creditor's winding up if the company is insolvent.

A company will be dissolved without formal winding up if the Registrar of Companies strikes off the company's name from the register of companies, but the liability of every director and member of the company continues and may be enforced as if it had not been dissolved.