When, the members of a company voluntarily windup the company is called Voluntary Winding up. According to the company Act-1994 describes the circumstances, in which the company may wind up voluntary as follows,
01 .If the company in general meeting has passed the ordinary resolution for voluntary winding up for the following reasons.
a. If period is fixed and it is expired.
b. If any event occurs, on the happing of which the articles provide that the company is to be dissolve.
c. If the company resolves by special resolution that the company be wound up voluntarily.
d. If the company resolves by extra ordinary resolution to the effect that it cannot by reason of its liabilities continue its business and that is advisable to windup.