208. Commencement of winding-up
(1) If, before the presentation of a petition for the winding-up of a Company by the Court, a resolution has been passed by the Company for voluntary winding-up, the winding-up of the Company is deemed to have commenced at the time of the passing of the resolution; and unless the Court, on proof of fraud or mistake, directs otherwise, all proceedings taken in the voluntary winding-up are deemed to have been validly taken.
(2) Where the Court makes a winding-up order by virtue of Section 18(1)(e) (Powers of Court), the winding-up is deemed to commence on the making of the order.
(3) In any other case, the winding-up of a Company by the Court is deemed to commence at the time of the presentation of the petition for the winding-up.