Easy-exit under ROC

Querist : Anonymous (Querist) 13 June 2010 This query is : Resolved
A non-functional company having four directors wishes to close-down the company under the newly introduced 'easy-exit scheme' of ROC. Is it necessary to obtain the approval of all the directors?

Follow Query

Report Abuse

Devajyoti Barman (Expert) 13 June 2010
No, a simple Resolution passed by majority of Directors is sufficient unless otherwise is provided for by the MOA.

Querist : Anonymous (Querist) 13 June 2010
Thanks for the prompt reply.

The ROC guidelines say that, after publication in their website seeking objections from interested parties, the non-functional company can be closed.

Our doubt is whether it is legally acceptable ?

Raj Kumar Makkad (Expert) 13 June 2010
Yes. It is legally acceptable.

bhagwat patil (Expert) 14 June 2010
If the charge is created by third party in ROC ie Bank OR FI and it takes objection in stipulated period you have to clear it.

Kumar Thadhani (Expert) 14 June 2010
I agree with all Learned Experts.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries