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    Company Dissolution Process

    Posted By : KAMAL / Published on : 12-Apr-2022 11:57 AM / View : 408 / Comment : 1

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    Dear All,

    Can anyone let me know the process and cost of Company dissolutions under Company Act, 2013
    Read more on : process dissolution company

    • Dear Sir,


      As per section 271 read with Companies (winding up) Rules, a company may on a petition under section 272, be wound up by the Tribunal, by passing special resolution resolving that the company to be wind up by the Tribunal.

      On receipt of petition Tribunal may pass order for winding up

      Tribunal shall at the time of passing of the order of winding up appoint a liquidator.

      As per section 284

      Promoters, directors etc shall co-operate with liquidator.

      As per Section 286

       In the case of a limited company, any person who is or has been a director or manager, whose liability is unlimited under the provisions of this Act, shall, in addition to his liability, if any, to contribute as an ordinary member, be liable to make a further contribution as if he were at the commencement of winding up, a member of an unlimited company

      As per section 287

      The Tribunal may, while passing an order of winding up of a company, direct that there shall be, an advisory committee to advise the Company Liquidator 


      As per section 291

      The Company Liquidator may, with the sanction of the Tribunal, appoint one or more chartered accountants or company secretaries or cost accountants or legal practitioners or such other professionals on such terms and conditions, as may be necessary, to assist him in the performance of his duties and functions under this Act.

      Under Section 302

       When the affairs of a company have been completely wound up, the Company Liquidator shall make an application to the Tribunal for dissolution of such company.

      (2) The Tribunal shall on an application filed by the Company Liquidator under sub-section (1) or when the Tribunal is of the opinion that it is just and reasonable in the circumstances of the case that an order for the dissolution of the company should be made, make an order that the company be dissolved from the date of the order, and the company shall be dissolved accordingly.


      Hope it is helpful

      Thank you 

      21-04-2022 / 05:53:13 AM
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