Can anybody tell me if we hav to close the operations of the Company under Section 25 of the Industrial Dispute act, 1947 then we have to pass the resolution regarding the same in Board Meeting or we hav to conduct AGM or EGM????????????????

Pls help

THanks

Industrial Disputes Act does not deal with the adminsitration of the company. Section 25 FFF says that you have to pay compensation to the workmen as if they were retrenched. as far as clousure or winding up of the company is concerned you have to follow company law.   

Thanx sir , but m not able to get any infromation or relevant section whether to hold board Meeting or AGM for passing the resolution for the closure of the business. if u knw pls kindly let me knw?????

Thanks in advance.

Regards,

Seema  

Volutary Dissolution of the company can be done as per sec. 484 of the companies Act 1956

484. Circumstances in which company may be wound up voluntarily.—

(1) A company may be wound up voluntarily—

(a) when the period, if any, fixed for the duration of the company by the articles has expired, or the event, if any, has occurred, on the occurrence of which the articles provide that the company is to be dissolved, and the company in general meeting passes a resolution requiring the company to be wound up voluntarily;

(b) if the company passes a special resolution that the company be wound up voluntarily.

(2) In this Act, the expression “a resolution for voluntary winding up” means a resolution passed under clause (a) or (b) of sub-section (1).

Regards,

Advocate Rohit Dalmia

9324538481

Mumbai