Winding Up Agreement Sample

Winding Up Agreement Sample

Pursuant to section 2(94A) of the Companies Act, 2013, “winding-up” means winding-up under this Act or winding-up under the Insolvency and Bankruptcy Act, 2016. The “liquidation” of a company is a legal mechanism for closing or terminating a company under the supervision of a liquidator. In this process, the existence of a company ends, that is, the company ceases its business activities. Directors are removed from office. Instead, an administrator called a liquidator is appointed, who takes control of the company into his hands. By formally dissolving the company, the partners can ensure that they are no longer individually liable for the company`s debts and that no partner can bind the other partners to business transactions without the knowledge or consent of the other partners. Other names for this document: Termination of a partnership, termination of a partnership agreement A partnership termination agreement is a document used by two or more partners who are jointly in a partnership to terminate the partnership. . . .


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