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NEW INDIAN COMPANIES ACT WILL ENSURE SMOOTH MONITORING: MINISTER.
NEW DELHI, July 1 Asia Pulse - The federal government said it has decided to fix the time frame of six months for finalising the liquidation process of the defunct companies and also bring down the number of Clauses to 300 from the current 796 under the new Companies Act.
The government will also expedite the functioning of the Competition Commission and National Company Law Tribunal, Company Affairs Minister P C Gupta said while addressing an ASSOCHAM, an industry body, meeting here.
"Since the current liquidation process takes years, the government is planning to fix the liquidation process of defunct companies within six months after it receives an application to this effect", ...
- Misuse Of The Liquidation Process.(Companies Act, 1973)
- News wire article from: Mondaq Business Briefing October 16, 2007 700+ words
...equivalent of a powerful bomb. The liquidation process is intended for the winding up of...these circumstances are set out in the Companies Act, 1973. The process is not meant...letter of demand. This section in the Companies Act, 1973 provides that a company is...
- Previo continues liquidation process started last month with sale to Utah firm....
- Magazine article from: San Diego Business Journal Allen, Mike August 19, 2002 700+ words
Previo Nearly Previous: Previo, the San Diego-based company formerly called Stac Software, continues a liquidation process it started last month when it sold most of its assets to a Utah company. According to an SEC filing earlier this month...
- Correo Argentino's liquidation process suspended.
- Newspaper article from: South American Business Information January 20, 2004 700+ words
...16, 2004 (El Clarin/SABI via COMTEX) The Argentinean Appeal Chamber for bankruptcy cases has suspended the liquidation process of Correo Argentino, the Argentinean postal services operator, which is owned by the Macri group. The decision...
- GNP to Streamline Liquidation Process for Firms.
- Newspaper article from: Korea Times (Seoul, Korea) April 23, 2001 700+ words
The main opposition Grand National Party (GNP) plans to take measures to streamline the liquidation process for insolvent companies by revising related laws and regulations, party sources said yesterday. Party policy-makers said that...
- Jacobson's to Begin Liquidation Process at All 18 Stores.
- Press release article from: PR Newswire July 25, 2002 700+ words
...one to purchase the Company's merchandise and another to purchase its accounts receivable. Approval of the liquidation process follows the Company's unsuccessful attempts to sell the business as a going concern. A joint venture group...
- Hokkaido Takushoku Bank declares end of liquidation process.
- Newspaper article from: Kyodo News International (Tokyo, Japan) January 31, 2006 700+ words
Jan. 31--SAPPORO -- The failed Hokkaido Takushoku Bank declared the end of its liquidation process at an extraordinary shareholders' meeting in Sapporo on Tuesday. Chief liquidator Tatsuji Obara, a former managing director...
- Mosler Inc. to Cease All Operations; Security Firm Enters Into Liquidation...
- Press release article from: Business Wire August 3, 2001 700+ words
...employees have been terminated. The company has retained only a small core group of employees to assist in the liquidation process. Mosler said that it explored a number of actions, including a sale of the company and various restructuring...
- More sales. (Real Estate).(Burnham Pacific Properties Inc. sells properties in...
- Magazine article from: San Diego Business Journal Jackson, Mandy February 25, 2002 700+ words
...estate investment trust Burnham Pacific Properties Inc. has sold three more of its properties as part of its liquidation process. The centers located in Ontario, Calif., Salem, Ore., and Renton, Wash., sold for $24.8 million to...