Section 281 of CA 2013 : Section 281: Submission Of Report By Company Liquidator
CA 2013
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Explanation using Example
Imagine a company called "Tech Innovations Ltd." has been ordered to be wound up by the National Company Law Tribunal (NCLT) due to insolvency. Following this order, the appointed Company Liquidator, Mr. Sharma, is now responsible for overseeing the liquidation process. Mr. Sharma begins his duties by preparing a comprehensive report that includes:
- The location and value of all the company's assets, such as office equipment, patents, and any cash or securities the company holds. He hires a registered valuer to accurately assess the value of these assets.
- Details on the company's issued, subscribed, and paid-up capital to understand its financial standing.
- A list of all liabilities, including secured and unsecured debts, with specific...
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