DISSOLUTION OF A COMPANY. — SPCC STD 12 Commerce — Question

The Company’s members and creditors take the company into liquidation, without interference from the court, as "voluntary redemption / dissolution." The circumstances of this voluntary liquidation can be as follows:

• When the Company finishes: - In the company's regulatory framework, when the company is established to have been established for a specific period, the company, which is finishing the term, is automatically taken to the rubbish. The completion of the company's meeting can be taken into liquidation by passing a general resolution in the general meeting. For example:- The construction of six lane road of 1500 km, the work will be completed in the company set up. To complete the term is complete is taken to liquidate the company voluntarily.
• When a certain event occurs in the company: - At the company's regulatory order, it has been stated that the company can be taken to the liquidation even when it is carried out in a voluntary liquidation of the company, "there are certain specific events being made." In the company's general meeting, Normal resolution of liquidation is passed. Eg: -The business of the company is declared illegally by the government.
• Special resolution: - Even after being able to repay the financial position of the company and repay the debtors, a special resolution can be passed to the liquidation by passing a special resolution.