(b) Assuming that the shareholders of Diamondtec (Pvt) Ltd decide to preempt proceedings by the creditors of the company by opting for the voluntary liquidation of the company, in relation to company law, explain the following:(i) The circumstances in which the company may be wound up voluntarily. (2 marks)(ii) The effect of voluntary winding up on the business and status of the company. (2 marks)
