30 March 2010
What is the procedure for liquidation of a private limited company. The company has negative reserves and only assets are cash and bank balance and sundry loans given to directors.
Kindly guide as to what resolution needs to be passed, what forms needs to be filed and is appointment of a liquidator compulsory
30 March 2010
Before u come to liquidation of any company u must obtain a winding up order from the High Court under whose jurisdiction the company falls. Depending on the mode of winding up selected the proceedure will vary, there are several issues/steps involved accordingly the resolution will differ.
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