Response to this Question

    Indian Companies Act has elaborate procedure for winding up of companies. Basically, The corporate law gives options for a Fast Track winding up subject to fulfillment of prescribed conditions and voluntary winding up under sec 391 / 394 of The companies Act. The process entails approaching Indian High Court and seeking assistance of official liquidator to wind up a company. In nutshell, if the Indian company has fulfilled all its contractual obligations and there are no open investigations, suits pending, it can be wound up within a period of 6 months.

Date : 29-Nov-2019 

Other questions in FOREIGN EXCHANGE (FEMA) category