Closing your Business: Legal Aspects of Voluntary Liquidation of Companies in Nepal
CLOSING YOUR BUSINESS: LEGAL ASPECTS OF VOLUNTARY LIQUIDATION OF COMPANIES IN NEPAL
In the plainest sense, liquidation refers to liquidating all the assets of the company, thus bringing the business to an end. Voluntary liquidation is when a company decides to end its existence deliberately as opposed to when the company has become insolvent.
Companies’ Act, 2063 and Company Directives 2072...
Voluntary liquidation
In general sense, liquidation is the process of closing company’s business voluntarily or involuntarily. The shareholders of a company may voluntarily liquidate the company either by deciding to voluntarily liquidate a company in the special general meeting or through the provisions of liquidation mentioned in memorandum of association or article of association or in the consensus...