The process of winding up a public limited company by a court order is known as

The process of winding up a public limited company by a court order is known as compulsory liquidation. It is a legal process that is initiated when the court orders the winding up of a company due to various reasons such as failure to pay debts or inability to operate as a going concern. During the process of compulsory liquidation, the assets of the company are sold, and the proceeds are used to pay off the company's debts. The process is managed by a liquidator who is appointed by the court to oversee the process and ensure that it is conducted in accordance with the law. Once the process is complete, the company ceases to exist, and its name is removed from the register of companies.