1 / 3

COMPANY LIQUIDATION IN DMCC

Company liquidation is a process where a company or a business has to wind up its operations when they are no longer able to run their business. This is also known as License Termination & License Cancellation.

bhagyashree9
Download Presentation

COMPANY LIQUIDATION IN DMCC

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. COMPANY LIQUIDATION IN DMCC Company liquidation is a process where a company or a business has to wind up its operations when they are no longer able to run their business. This is also known as License Termination & License Cancellation. The procedure and requirements for liquidation vary in the different zone. 

  2. Types of DMCC Company Liquidation • Summary Winding up – This type of wind is done when the director of the company declares that within a period of 6 months the company can wound up. • Solvent Winding Up – This type of wind is done when the director of the company declares that within a period of 12 months the company can wound up. • Insolvent Voluntary Winding Up – This type of wind is done when the company has to pay off the debts to its creditors. As the name suggests, this wind-up is voluntarily done by the company. • Involuntary Winding Up by The Competent Court – This type of wind-up is done when the company receives orders from the DMCC authority to wind up the company.

More Related