Deregistration of a Defunct Company
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Defunct Company
The law of registration and deregistration is subject to numerous changes and amendments. The Deregistration Act, 1999, defines the process of deregistration and provides exceptions for certain companies. The Companies Act, 2013, was enacted on the 1st July 2014. It introduced major changes in the way in which corporate law in India has been administered. The amendments made under the said Act have been included in this paper for a better understanding of its provisions relating to DEREGISTRATION OF A DEFUNCT COMPANY.
Deregistration is the process of removing a company's name from the list of companies and disassociating it with all legal obligations. There are different types of deregistration that can be applied to a company.
One is Voluntary Deregistration, which is done by the shareholders for their own reasons such as transferring shares in another company or by winding up their business. Another one is Compulsory Deregistration, which is enforced by a court order where there are no shareholders remaining to make decisions about the affairs of the company.
Whatever type of deregistration you choose, it will also require some form of liquidation or dissolution for all outstanding liabilities and assets.