s 126 Commencement of winding up
126.—(1) In any case where, before the making of a winding up application, a resolution has been passed by the company for voluntary winding up —(a)
the winding up of the company is deemed to have commenced at the time of the passing of the resolution; and
(b)
unless the Court on proof of fraud or mistake thinks fit otherwise to direct, all proceedings taken in the voluntary winding up are deemed to have been validly taken.
(2) In any other case, the winding up is deemed to have commenced at the time of the making of the application for the winding up.
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