When a company is starting up, company needs to go through a lot of procedures that are abide by law. So, the concept is also the same when a company wanted to dissolve. Another term to dissolve the company is called ‘liquidation’. The dissolving of company must follow proper legal procedure in following ways;
- Registrar of Companies
Will striking off the register summarily a company which appears to be defunct [Section 308, Companies Act 1965]
- Court
Aproving a scheme of arrangement,may order the immediate dissolution of company [Section 178, Companies Act 1965]
- Voluntary Liquidation
Member voluntarily pass resolution by winding up
- Compulsory liquidation (Court order)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment