Author: Nisha Chandani, Student at Amity University, Lucknow
Co-Author: Sagar Chainani, Student at Amity University, Lucknow
INTRODUCTION
There are a variety of ways that a company can cease to exist. The liquidation and dissolution of businesses is one method. Another option is to have the company’s name removed from the list of companies that the Registrar keeps in accordance with Section 560 of the Companies Act of 1956. A few businesses have disappeared, according to the Registrar’s records, either because it is impossible to find the directors or because it ceases to conduct business at the registered office. In either scenario, the business eventually closes due to its status as a fading one. A company can be dissolved legally through the process of liquidation. It is common to use both “winding up” and “liquidation” interchangeably.
