What happens if a private limited company in India can’t pay its bills? Can creditors force it to shut down? How long does this process take? Who decides how the company’s assets are sold to pay back the creditors?

If a private limited company in India can’t pay its bills, creditors can file for its winding up. This process involves a court order and can take several months to years. The Official Liquidator, appointed by the court, oversees the sale of company assets to pay back creditors based on their priority and the available funds.